Status Check, Procedures, Facilities

Organization : Karur Vysya Bank Ltd
Facility : Open Demat Account

Home Page : https://www.kvb.co.in/

Demat Account India

Demat stands for dematerialization. The dematerialization process converts physical shares into electronic (dematerialized) shares, which eliminates all the problems associated with physical securities.

Related : KVB Procedure for Registration for YPayCash : www.statusin.in/3972.html

A Demat account has to be opened if you want to buy and sell shares, securities and debentures.

Opening an Account :
The first step to dematerialize your shares is to open an account. You may open a demat account either to convert your physical certificates to electronic form, to deal in the secondary market or to apply for Initial Public Offers (IPOs).

Following entities can open a Demat account :
** Resident Individuals
** HUFs
** NRIs
** Private Limited and Public Limited Companies
** Trusts
To open a Demat account you need a PAN card and you have to open a bank account with KVB.

Application Supported by Blocked Amount (ASBA)
Now customers of KVB have the convenience of subscribing for IPOs without parting with their money and waiting for refund orders. KVB is one of the few banks in the country to offer the facility of ASBA.

Features and Benefits
** ASBA is an alternative mode of payment in Public/Rights issue
** On submission of ASBA application, the application money remains blocked in the account of the investor till finalization of the allotment
** ASBA facilitates earning of interest on the application money in SB Account till the amount is transferred to the Registrars on allotment
** No need to write cheques or purchase Demand Drafts
** No hassle of Refund Orders and encashment of the same

Document Required for Resident Indian to open a Demat account :
** Application form
** Pan card copy
** Valid Identity Proof
** Valid Address Proof
** Photograph

Procedure to transfer shares from Demat account :
** Whenever you want to transfer shares, you need a transfer instruction slip. If share ownership is transferred to a broker account by selling the shares on the stock exchange it is called market instruction, whereas, if you transfer shares to your family or friends account it is called off market instructions.
** The person receiving the shares can have a Demat account either with National Securities Depository Limited (NSDL) or Central Depository Services (India) Limited (CDSL).
** If the buyer and seller of the shares have Demat accounts with same depository it is called Intra Depository instruction or within depository instruction.
** If the buyer and seller of the shares have Demat accounts with different depositories then the transfer is called Inter Depository instruction and clients have to submit Annex L / Annex N in the demat designated branches of KVB.

Points to be remembered while filling transfer instructions :
** Identify whether Market/Off Market/ Inter Depository
** For Market / Off Market you need to submit Annex L
** For Inter Depository you need to submit Annex N

** If it is a Market trade you need to write CMBP ID / CM Name/ Market Type/ Settlement Number
** If it is off market trade you need to write the receiving persons Client ID along with Depository ID ===DP ID

** Always write the International Securities Identifying Number (ISIN)
** The quantity in figures and words should match
** Correction should be authenticated
** If Joint Holding All Holders Should Sign