Organization : Central Depository Services Ltd
Facility : Open Demat Account
Home Page :http://www.cdslindia.com/index.html
Apply here :http://www.cdslindia.com/investors/open-demat.aspx
For more details here https://www.statusin.in/uploads/4022-02%20Demat%20CDSL%20Way%20-%20II%20-%20Account%20Opening.pdf
Benefits of opening a demat account for investors :
A demat account has become a necessity for all categories of investors for the following :
** SEBI has made it compulsory for trades in all listed scrips to be settled in demat mode. Although, trades up to 500 shares can be settled in physical form, physical settlement is virtually not taking place for the apprehension of bad delivery on account of mismatch of signatures, forgery of signatures, fake certificates etc.
** It is a safe and convenient way to hold securities compared to holding securities in physical form.
Advantages of opening a demat account with CDSL are given below :
** Unique centralized database of CDSL enables DPs to debit/credit securities instantaneously to the BO’s account.
** CDSL allots a unique number to each demat account, which ensures debit/credit of securities only to the intended account. Thus, if an account number is keyed in incorrectly, CDSL system will not effect the transaction.
What should an investor do to open an account with a DP :
The process of opening a demat account through a DP of CDSL is very simple and easy. It is similar to the opening of a bank account.
** Investor has to first choose a DP based on his convenience and the DP’s charges.
** The investor has to fill up the KYC form and attach the documents with it as per SEBI guidelines specified in SEBI circular MIRSD/SE/Cir/21/2011 dated October 5, 2011 and circulars issued by KRA agencies from time to time.
Demat account be opened for a minor :
Demat account can be opened in the name of a minor. The account will be operated by a guardian till the minor becomes major, Guardian has to be the father or in his absence mother. In absence of both, father or mother, the guardian can be appointed by court.
Demat Account For Trust :
If the trust is registered under the Public Trust act 1860 / Societies Registration act / Bombay Public Trust act / public trust act in force in the state, then a demat account can be opened in the name of a trust.
Account Modification
Except names of the account holder(s) and type of the account, all other information such as address, bank details, date of birth etc. can be modified. As per recent SEBI guidelines Name change, of account holders, due to any of the following reasons is permitted;
** Change in name on account of marriage
** Change in name on account of reasons other than marriage
** Change in father’s name