A depository can be compared to a bank. It holds securities such as shares, debentures, bonds, government securities, units etc. of investors in electronic form. There are two depositories in India, The National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). An individual who desires to avail the depository services can approach a Depository Participant (DP). Banks, financial institutions, custodians, brokers or any other entity eligible as per SEBI (Depositories and Participants) Regulations, 1996 can apply to the Depository to become a Depository Participant.
Geojit BNP Paribas, is a depository participant of NSDL & CDSL. Investors can open demat accounts with NSDL & CDSL through Geojit BNP Paribas. One can approach the nearest branch of Geojit BNP Paribas for opening an account. Agreement charges (statutory charges) along with Annual Maintenance Charge (AMC) are collected upfront while opening an account. It takes two to three days to open a demat account. Upon activation of the demat account, a Welcome Letter is sent to the customer along with the Delivery Instruction Slip book.
DP facilities offered by Geojit BNP Paribas
- De-materialization: You can convert your physical shares into electronic form by surrendering the shares for dematerialization at the Geojit BNP Paribas branch.
- Re-materialization: Re-materialization enables you to convert the dematerialised shares into physical form.
- Repurchase: This facility helps you to submit the units of open-ended Mutual Funds in case of re-purchase.
- Pledge: You can pledge securities to avail a loan.
- Transfer: You can transfer securities from one demat account to another.
- IPOs: In case you have applied for an IPO and receive an allotment then the securities are transferred directly to your demat account. The same applies for bonus and rights issues.
- Commodity De-mat Account: If you are a commodity player, you may need to open a commodity de-mat account with Geojit BNP Paribas.
- Speed-e: If you register for Speed-e services, then transfer instructions can be placed online over the internet to pre-notified Clearing Members Pool a/c. This does away with the need to submit a physical delivery instruction slip.
- Internet Services: If you have access to Internet then you can register with us to view your demat account over the Internet. This is very beneficial as you can avail of a host of services at no extra cost. You will be able to view your holdings,reports,ledger and will have free access to our research reports at any time.
- SMS Alert Facility: The alert messages for all debits and Credits(transfers), credits for IPO, subdivision & bonus, failed and overdue debit instructions, change of address & mobile number, invocation of pledged securities and registration & de-registration of Power of Attorney would be sent to the account holders who have subscribed to this facility. Depository provides this facility and no charge is levied for providing this service to investors.