“Service Analysis & Customer satisfaction towards Depositary participants”.

A Study of Customer Satisfaction towards Depository Participants
EXECUTIVE SUMMARY
Karvy, the FINAPOLIS Ltd. is a stock Broking Company that deas in
shares. Apart !rom sec"rity #roking Karvy is in to $emat services, %"t"a !"nd
and Ins"rance services. It o!!ers a &ide range o! !inancia services in order to
meet di!!erent individ"as !inancia panning.
'he pro(ect emphasi)es on *C"stomer satis!action to&ards depository
participants+
Objectives of the Study:
• 'o kno& the !"nction o! $P.
• 'o kno& the percentage o! have satis!ied the service o! $P.
• 'o kno& ho& demat acco"nt is heping in the trading
• 'o kno& the e,ception o! the c"stomer.
• 'o kno& the oops and dra& #acks o! $P.
Research Methodoo!y:
"ata source:
Primary $ata- 'hro"gh ."estionnaire
Secondary $ata- Karvy/s 0ecord 1 0eport, %aga)ine 1
2e#sites.

Sa#$e si%e: 344 c"stomers o! Karvy Stock Broking Ltd.
Area Covered for research: Ony $har&ad KA056 c"stomers.

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A Study of Customer Satisfaction towards Depository Participants
Sa#$i)! 'rocedure- 0andom samping method !rom avaia#e data#ase. In
the present scenario the service ind"stry has given an "tmost importance o!
doing a partic"ar task at a !astest time in order to satis!y the c"stomer and to
attract ne& c"stomer. In this pro(ect &e can !ind o"t the c"stomer o! Karvy
Cons"tant have satis!ied &ith demat service and this $P is overcoming the
disadvantages o! the physica trading o! the sec"rities in the stock e,change.
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A Study of Customer Satisfaction towards Depository Participants
*I+"I+,S:
38 I have carried o"t this e,ercise on $ematerisation. So in my st"dies I have tried to
see &hether the c"stomer have satis!ied the service given #y depository participants.
78 I have aso seen that a&areness o! KA056 service given #y Karvy !inica
cons"tant is !rom !riends.
98 It is aso seen that more than :;< o! the respondent have satis!ied &ith the service
o! demat.
;8 It is aso seen that more than ==< to >4< o! the respondent has satis!ied &ith the
service o! Free)ing? $e!ree)ing and oan against share. Aso ;4< respondents are not
a&are a#o"t these services.
=8 Aso !o"nd that neary 7< o! the respondents are dissatis!ied &ith #i Acceptance.
>8 =< improper !ormat o! @oding?'ransaction statement and ;< FreA"enty
reminders are given to karvy cons"tant td., !or "pdate the in!ormation Are
$issatis!ied.
B8. 9:< o! respondent !ee tari!! str"ct"re o! Karvy Stock Broking Ltd charged is high
and very high.
:8 Aso !o"nd that =9< respondent have satis!ied :4< o! the service
C8. 9=< o! respondent pre!er Karvy Stock Broking Ltd $P to Other $p #eca"se
O! ."aity service And, ;4< !or sa!ety service.
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A Study of Customer Satisfaction towards Depository Participants
I+TRO"UCTIO+
India has t&o h"ndred years od tradition in Sec"rities. In!act that !irst India
stock e,change esta#ished in Bom#ay is the odest in Asia. 'he eariest sec"rity
deaings &ere 'ransactions in oan sec"rities o! Dast India Company, the dominant
instit"tion o! those days. Corporate Shares came into the pict"re #y 3:94/s and
ass"med signi!icance &ith the Companies Act o! 3C=>. In 3::B the #roker comm"nity
gave #irth to the *Native share and stock #rokers Association+ &hich is no& kno&n as
the Bom#ay Stock D,change.
'he Indian Capita gre& at a very moderate rate !rom 3C=3 to 3C:4. @o&ever
it registered an impressive gro&th in 3C:4s. the process o! i#erai)ation and the
transparency in operation has raised the interest o! !oreign investors in India. 'i 3CB:
there &ere ony : recogni)ed e,changes in India. Initiay the e,change operated on
an o"tcry system i.e. man"a system o! trading $"e to increase in the trading vo"mes,
the n"m#er o! iss"er increased s"#stantiay, and the #irth o! NSDS highy transparent
a"tomated system come into e,istence Dven then there &as an increase in paper &ork
ca"sing a gridock at every stage in the stock market 'his deays the cearance and
settement o! traders, registration o! sec"rities in the sharehoder name and d"e this it
increased the #ack o!!ice paper &ork intermediaries 'hese o"tdated systems have
increased settement risks and have rendered the impementation o! a deivery o! a
vers"s payment system impossi#e. Nationa Stock D,change o! India Limited to
provide eectronic depository !aciities !or sec"rities traded in the eA"ity and the de#t
market. NS$L commenced its operations in the year 3CC> and is the !irst depository
in India.
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A Study of Customer Satisfaction towards Depository Participants
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A Study of Customer Satisfaction towards Depository Participants
"ESI,+ O* T-E STU"Y
Tie of the $roject:
.Service A)aysis / Custo#er satisfactio) to0ards "e$ositary $artici$a)ts12
State#e)t of the 'robe#: KA056 S'OCK B0OKINE Ltd is providing the $emat
service. @ence in this report an attempt is made to kno& the present c"stomer
satis!action to&ards depository participants.

RESEARC- O&3ECTIVES:
• 'o kno& the !"nction o! $P.
• 'o kno& the percentage o! have satis!ied the service o! $P.
• 'o kno& ho& demat acco"nt is heping in the trading
• 'o kno& the e,ception o! the c"stomer.
• 'o kno& the oops and dra& #acks o! $P.
.
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A Study of Customer Satisfaction towards Depository Participants
MET-O"S A+" MET-O"O(O,Y
Sa#$i)! "esi!):
? Sa#$i)! since segment &ise investors in KA056 S'OCK B0OKINE Ltd
&ere avaia#e the overa c"stomers &ere considered !or the st"dy. @"ndred
Percent coveraged. @ence random samping s"rvey method &as adopted !or
the p"rpose o! the st"dy.
? Sa#$i)! Si%e: A sampe o! 344 &as chosen !or the p"rpose o! the st"dy.
Sampe consisted o! sma investor, arge investors and traders o! KA056
S'OCK B0OKINE Ltd.
? Sa#$i)! 'rocedure- From arge n"m#er o! c"stomer o! KA056 S'OCK
B0OKINE Ltd. 2ere randomy seected !rom the avaia#e c"stomer
data#ase.
? *ied Study- $irecty approached respondents.
"ATA CO((ECTIO+ MET-O":
3. P0I%A06 $A'A- For a st"dy o! this nat"re primary data is coected thro"gh
."estionnaire.
7. SDCON$A06 $A'A- 'his is #een is coected thro"gh Karvy/s 0ecord 1
0eport, %aga)ine 1 2e#sites.
MEASUREME+T TEC-+I4UE:
For this p"rpose meas"rement techniA"e "sed !or s"rvey is
A"estionnaire to coect in!ormation !rom the respondent
A+A(YTICA( TEC-+I4UE:
Statistica techniA"e "sed !or meas"ring the response is in terms o!
percentage.
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A Study of Customer Satisfaction towards Depository Participants
(IMITATIO+ O* STU"Y
• Since Sampe si)e is ony 344 a @"ndred c"stomers are approached .
• Since segment &ise investor is avaia#e in KA056 S'OCK B0OKINE Ltd.
Overa concept is taken !or the st"dy.
• In!ormation is party #ased on secondary data and hence the a"thenticity o! the
st"dy can #e vis"ai)ed and is meas"ra#e.
• Leve o! acc"racy o! the res"ts o! research is restricted to the acc"racy eve
&ith &hich the c"stomers have given their ans&ers and the acc"racy eve o!
the ans&ers cannot #e predicted.
&AC5,ROU+"
Karvy Stock Broking Limited, one o! the cornerstones o! the Karvy edi!ice,
!o&s !reey to&ards attaining diverse goas o! the c"stomer thro"gh varied services.
Creating a pethora o! opport"nities !or the c"stomer #y opening "p investment vistas
#acked #y researchF#ased advisory services. @ere, gro&th kno&s no imits and
s"ccess recogni)es no #o"ndaries. @eping the c"stomer create &aves in his port!oio
and empo&ering the investor competey is the "timate goa.
5ARVY, is a premier integrated !inancia services provider, and ranked
among the top !ive in the co"ntry in a its #"siness segments, services over 3> miion
individ"a investors in vario"s capacities, and provides investor services to over 944
corporate, comprising the &ho is &ho o! Corporate India. KA056 covers the entire
spectr"m o! !inancia services s"ch as Stock #roking, $epository Participants,
$istri#"tion o! !inancia prod"cts F m"t"a !"nds, #onds, !i,ed deposit, eA"ities,
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A Study of Customer Satisfaction towards Depository Participants
Ins"rance Broking, Commodities Broking, Persona Finance Advisory Services,
%erchant Banking 1 Corporate Finance, pacement o! eA"ity, IPOs, among others.
Karvy has a pro!essiona management team and ranks among the #est in technoogy,
operations and research o! vario"s ind"stria segments.
'he #irth o! Karvy &as on a modest scae in 3C:3. It #egan &ith the vision
and enterprise o! a sma gro"p o! practicing Chartered Acco"ntants &ho !o"nded the
!agship companyGKarvy Cons"tants Limited. 2e started &ith cons"ting and
!inancia acco"nting a"tomation, and carved inroads into the !ied o! registry and
share acco"nting #y 3C:=. Since then, &e have "tii)ed o"r e,perience and s"perative
e,pertise to go !rom strength to strengthGto #etter o"r services, to provide ne& ones,
to innovate, diversi!y and in the process, evoved Karvy as one o! India/s premier
integrated !inancia service enterprise.
'h"s over the ast 74 years Karvy has traveed the s"ccess ro"te, to&ards
#"iding a rep"tation as an integrated !inancia services provider, o!!ering a &ide
spectr"m o! services. And &e have made this (o"rney #y taking the ro"te o! A"aity
service, path #reaking innovations in service, versatiity in service and !inayG
totaity in service.
O"r highy A"ai!ied manpo&er, c"ttingFedge technoogy, comprehensive
in!rastr"ct"re and tota c"stomerF!oc"s has sec"red !or "s the position o! an emerging
!inancia services giant en(oying the con!idence and s"pport o! an envia#e cientee
across diverse !ieds in the !inancia &ord.
Over the years &e have ens"red that the tr"st o! o"r c"stomers is o"r #iggest
ret"rns. Factors s"ch as o"r s"ccess in the Dectronic c"stody #"siness has heped
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A Study of Customer Satisfaction towards Depository Participants
#"id on o"r tradition o! tr"st even more. ConseA"entiay o"r retai cient #ase
e,panded very !ast. O"r va"es and vision o! attaining tota competence in o"r
servicing has served as the #"iding #ock !or creating a great !inancia enterprise,
&hich stands soid on o"r !ortresses o! !inancia strength F o"r vario"s companies.
2ith the e,perience o! years o! hoistic !inancia servicing #ehind "s and years
o! compete e,pertise in the ind"stry to ook !or&ard to, &e have no& emerged as a
premier integrated !inancia services provider.
And today, &e can ook &ith pride at the !r"its o! o"r mastery and e,perience
H comprehensive !inancia services that are competenty segregated to service and
manage a diverse range o! c"stomer reA"irements.
,ROU' O* COM'A+IES
? 5ARVY SECURITY (T"
• $eas in distri#"tion o! vario"s investment prod"cts, vi), eA"ities,
%"t"a !"nd, #o"nds de#ent"re !i,ed deposits, ins"rance poicies 1
other !inancia prod"cts
• %em#er H@ydera#ad stock D,change I@SF8
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A Study of Customer Satisfaction towards Depository Participants
? 5ARVY STOC5 &RO5I+, (T"2
• $eas in #"ying 1 seing eA"ity shares 1 de#ent"re 1on the nationa
stock e,change INSD8, the @ydera#ad stock e,change 1 over the
co"nter e,change o! India IO'CDI8
• %em#erFnationa stock e,change INSD8
? 5ARVY CO+SU(TA+TS (T"
• 'rans!er agency services !or corporate 1 m"t"a !"nds
• 0egistrar !or IPOJ#ook #"iding
• $epositary participant services
• 0egistered &ith #oth NS$L?C$SL
• It ena#e services H%'?ca center ?data cassi!ication
• Karvy .com comprehensive !inancia advisory site
? 5ARVY I+VESTER SERVICES (T".
• $eas in iss"e management, investor #anking 1 merchant
#anking o! !i,ed income 1 other !inancia prod"cts.
• 'rading thro"gh BSD
? "E'OSITARY SEVICES
• 0egistered as $P #oth &ith NS$L 1 C$SL
• Serving over 7 ac investors
• Onine connectivity at @ydera#ad, L"ckno& 1Bangaore
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A Study of Customer Satisfaction towards Depository Participants
• 0anked among the top = $PS in the co"ntry
• @igh synergy &ith registry 1 #roking activities !or higher services
eves to the c"stomer in!ormation
• 2e# #ased c"stomer in!ormation
• Provision o! service in over B= ocations
? IT SERVICES ,ROU'
3. Medica tra)scri$tio)
• First strategic initiative into go#a processing
• Among the top %' companies in India
7.E6&USI+ESS ,ROU'
• Strategic intent- to deveop a comprehensive !inancia services porta
&hich inc"des
• Investor servicing- m"t"a !"nds, corporate sharehoders 1
depository cients.
• $istri#"tion o! !inancia prod"cts
• Net trading
• Ins"rance distri#"tion
3. Ca center
7. Started &ith a 94 agent eFca center
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A Study of Customer Satisfaction towards Depository Participants
MISSIO+
O"r mission is to #e a eading, pre!erred service provider to o"r c"stomers,
and &e aim to achieve this eadership position #y #"iding an innovative, enterprising
and technoogy driven organi)ation &hich &i set the highest standards o! service and
#"siness ethics.
4UA(ITY 'O(ICY
'o achieve and retain eadership, Karvy sha aim !oe compete
c"stomers satis!action, #y com#ining its h"man and 'echnoogica reso"rces, to
provide s"perior A"aity !inancia Services. In the process, Karvy &i strive to
e,ceed C"stomer/s e,pectations.
4UA(ITY O&3ECTIVES
As per the ."aity Poicy, Karvy &i-
3. B"id inF ho"se process that &i ens"re transparent and harmonio"s
reationship &ith its cients and investors to provide high A"aity o! services.
7. Dsta#ish a partner reationship &ith its investor service agents and vendors
that &i hep in keeping "p its commitments to the c"stomers.
9. Provide high A"aity o! &ork i!e !or a its empoyees and eA"ip them &ith
adeA"ate kno&edge 1skis so as to respond to c"stomer/s need.
;. Contin"e to "phod the va"es o! honesty 1 integrity and strive to esta#ish
"nparaeed standards in #"siness ethics.
=. Kse state Ho! H the art in!ormation technoogy in deveoping ne& and
innovative !inancia prod"cts and services to meet the changing needs o!
investors and cients.
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A Study of Customer Satisfaction towards Depository Participants
>. Strive to #e a reia#e so"rce o! va"eFadded !inancia prod"cts and services
and constanty g"ide the individ"as and instit"tions in making a ("dicio"s
choice o! it. Strive to keep a stakeF hoders Isharehoders, cients, investors
and reg"atory a"thorities8 pro"d and satis!ied.
Achieve#e)ts
? Among the top = stock #rokers in India I;< o! NSD vo"mes8
? IndiaLs No. 3 0egistrar 1 Sec"rities 'rans!er Agents
? Among the to top 9 $epository Participants
? Largest Net&ork o! Branches 1 B"siness Associates
? ISO C447 certi!ied operations #y $N5
? Among top 34 Investment #ankers
? Largest $istri#"tor o! Financia Prod"cts
? Ad("dged as one o! the top =4 I' "ses in India #y %IS Asia
? F" Fedged I' driven operations
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A Study of Customer Satisfaction towards Depository Participants
MI(ESTO+E
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A Study of Customer Satisfaction towards Depository Participants
OR,A+I7ATIO+ C-ART
Ma)a!i)! "irector
Chief Ma)a!i)! "irector
Vice6'reside)t Vice6'reside)t Vice6'reside)t Vice6'reside)t

5arvy 5arvy 5arvy 5arvy
Securities Stoc8 &ro8i)! Co)suta)ts I)vestors Services
(td2 (td2 (td2 (td2
"e$uty "e$uty "e$uty "e$uty
,e)era ,e)era ,e)era ,e)era
Ma)a!er Ma)a!er Ma)a!er Ma)a!er
Se)ior Se)ior Se)ior Se)ior
Ma)a!er Ma)a!er Ma)a!er Ma)a!er
&ra)ch Ma)a!er
+ )u#ber of Tea# (eaders
+ )u#ber of E9ecutives
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A Study of Customer Satisfaction towards Depository Participants
I+TRO"UCTIO+
$emateriai)ation or M$ematM is a process &here#y yo"r sec"rities ike
shares, de#ent"res etc, are converted into eectronic data and stored in
comp"ters #y a $epository. Sec"rities registered in yo"r name are s"rrendered
to depository participant I$P8 and these are sent to the respective companies
&ho &i cance them a!ter M$emateriai)ationM and credit yo"r depository
acco"nt &ith the $P. 'he sec"rities on $emateriai)ation appear as #aances in
yo"r depository acco"nt. 'hese #aances are trans!era#e ike physica shares. I!
at a ater date, yo" &ish to have these M$ematM sec"rities converted #ack into
paper certi!icates, the $epose $epository !"nctions ike a sec"rities #ank,
&here the demateriai)ed physica sec"rities are traded and hed in c"stody.
'his !aciitates !aster, risk !ree and o& cost settement.
In order to demateriai)e certi!icatesN an investor &i have to !irst open
an acco"nt &ith a $P 1 then reA"est !or the demateriai)ation o! certi!icate #y
!iing "p a demateriai)ation reA"est !orm I$0F8, &hich is avaia#e &ith $P
1 s"#mitting the same aong &ith the physica certi!icates. 'he investor has to
ens"re that #e!ore the certi!icate are handed over to the $P For demat, they are
de!aced #y marking *Surre)dered for de#ateriaisatio)1 on the !ace o! the
certi!icates. $epository is m"ch ike a #ank and per!orm many activities that
are simiar to a #ank.
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A Study of Customer Satisfaction towards Depository Participants
O"st as one opens a #ank acco"nt in order to avai o! the services o! a
#ank, an investor opens a depository acco"nt &ith a depository participant in
order to avai o! depository !aciities.
Foo&ing ta#e compares the t&o.
&a)8 "e$ository
@ods !"nds in acco"nts @ods sec"rities in acco"nt
'rans!ers !"nds #et&een acco"nts 'rans!ers sec"rities #et&een acco"nts
'rans!ers &itho"t handing money 'rans!ers &itho"t handing sec"rities
Sa!ekeeping o! money Sa!ekeeping o! sec"rities
'ransacting the depository &ay has severa advantages over the traditiona system
o! transacting "sing share certi!icates. Some o! the #ene!its are-
• 'rading in demat segment competey eiminates the risk o! #ad
deiveries, &hich in t"rn eiminates a cost and &astage o! time
associated &ith !oo& "p !or recti!ication. 'his red"ction in risk
associated &ith #ad deivery has ead to red"ction in #rokerage to the
e,tent o! 4.=< #y A"ite a !e& #rokerage !irms.
• In case o! trans!er o! eectronic shares, yo" save 4.=< in stamp d"ty.
• 6o" aso avoid the cost o! co"rier? notari)ation? the need !or !"rther
!oo&F"p &ith yo"r #roker !or shares ret"rned !or company o#(ection
• In case the certi!icates are ost in transit or &hen the share certi!icates
#ecome m"tiated or mispaced, to o#tain d"picate certi!icates, yo" may
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A Study of Customer Satisfaction towards Depository Participants
have to spend at east 0s=44 !or indemnity #ond, ne&spaper
advertisement etc, &hich can #e competey eiminated in the demat
!orm.
• 6o" can aso receive yo"r #on"ses and rights into yo"r depository
acco"nt as a direct credit, th"s eiminating risk o! oss in transit.
• 6o" can aso e,pect a o&er interest charge !or oans taken against
demat shares as compared to the interest !or oan against physica
shares. 'his co"d res"t in a saving o! a#o"t 4.7=< to 3.=<. Some
#anks have aready anno"nced this.
• 0BI has increased the imit o! oans against demateriai)ed sec"rities as
coatera to 0s7mn per #orro&er as against 0s3mn per #orro&er in case
o! oans against physica sec"rities.
• 0BI has aso red"ced the minim"m margin to 7=< !or oans against
demateriai)ed sec"rities as against =4< !or oans against physica
sec"rities.
In short the advantages o! opening a demat acco"nt are
? Shorter settements there#y enhancing iA"idity
? No stamp d"ties on trans!er o! sec"rities hed in demat !orm.
? Dimination o! risk associated &ith physica certi!icated s"ch as #ad
deivery, !ake sec"rities.
? 0ed"ction in handing arge vo"me o! paperN
? Nomination !aciity
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A Study of Customer Satisfaction towards Depository Participants
? 'ransmission o! sec"rities Is"ch as shares, de#ent"res, #onds and
"nits8 is done #y $P eiminating the need to correspond &ith each
company separatey.
? Change o! name, address, dividend mandate, registration o! po&er o!
attorney, transmission etc. can #e e!!ected across companies hed in
demat !orm #y a singe instr"ction to the $P
'ho"gh "nder the $epositories Act, 3CC>, there is no comp"sion and the
investor can hod shares either in physica or in demateriai)ed !orm. B"t according to
Se#i/s directive certain shares have to #e traded comp"soriy in demateriai)ed !orm
&here the seer cannot se in physica !orm. @o&ever, a!ter he has #o"ght the shares
the investor can ask !or remateriai)ation o! the shares.
'he $epository Acco"nt m"st #e opened &ith a $epository Participant. NS$L
inter!aces &ith investor tro"gh $epository Participants I$PS8. A ist o! names and
addresses o! a A"thori)ed $P/s is avaia#e &ith the NS$L and C$SL and one can
meet any o! these $P/s pace and make a choice at yo"r #ased on yo"r com!ort and
convenience. Opening a depository acco"nt is as simpe as opening a #ank acco"nt.
One can open a depository acco"nt &ith any $P.
'o open a $epository Acco"nt, yo" have to s"#mit the d"y !ied in Acco"nt
Opening !orm aong &ith the !oo&ing doc"ments-
• Fi "p the acco"nt opening !orm, &hich is avaia#e &ith the $P.
• 0esidentia Proo! F Copy o! 0ation Card, Passport, $riving License,
'eephone Bi, Dectricity Bi or 0enta Agreement.
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A Study of Customer Satisfaction towards Depository Participants
• Sign the $PFcient agreement, &hich de!ines the rights and d"ties o! the $P
and the person &ishing to open the acco"nt.
• 0eceive yo"r cient acco"nt n"m#er Icient I$8.
• 'his cient I$ aong &ith yo"r $P I$ gives yo" a "niA"e identi!ication in the
depository system.
'here is no restriction on the n"m#er o! depository acco"nts a person can
open. @o&ever, i! yo"r e,isting physica shares are in (oint names, yo" have to open
the acco"nt in the same order o! names #e!ore yo" s"#mit yo"r share certi!icates !or
demat. A soe hoder o! the share certi!icates cannot add more names as (oint hoders
at the time o! demateriai)ing his share certi!icates.
@o&ever, i! the investor &ants to trans!er the o&nership !rom his individ"a
name to a (oint name, he sho"d !irst open an acco"nt as the soe hoder Iacco"nt A8
and demateriai)e the share certi!icates. @e sho"d then open another depository
acco"nt Iacco"nt B8 in &hich he is the !irst hoder and the other person is the second
hoder and make an o!! market trans!er o! the shares !rom the acco"nt A to acco"nt B.
'he investor &i inc"r a charge on this transaction. Aternativey, the certi!icates can
#e trans!erred to the (oint o&nership and then sent !or $emateriai)ation.
0ight no&, as per the Companies Act, there is no nomination !aciity !or shares
I&hether in the physica or in the eectronic !orm8. 'he nomination !aciity !or shares
can #e avaied o! ony &hen the reevant provisions in the Companies Act are
amended. NS$L capt"res the detais o! the nominee &hen the acco"nt is opened so as
to o!!er the !aciity as soon as the reevant amendments are e!!ected in the La&.
&A&ASA& 'ATI(
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A Study of Customer Satisfaction towards Depository Participants
A cient can choose to open more than one acco"nt &ith same $P. In
addition to this, he has a choice o! opening acco"nts &ith more than one $P.
@o&ever a #roker can open ("st one Cearing %em#er acco"nt per card? stock
e,change !or cearing p"rpose, #"t he can sti open m"tipe #ene!iciary
acco"nts Bene!iciary is the persona acco"nt &herein #rokers can keep their
persona hodings.
Accou)t o$e)i)!
Any investor &ho &ishes to avai depository services m"st !irst open an
acco"nt &ith a depository participant o! NS$L 'he process o! opening a $emat
acco"nt is very simiar to a #ank acco"nt 'he investor can open an acco"nt
&ith any depository participant o! NS$L An investor may open an acco"nt
&ith severa $Ps or he may open severa acco"nt &ith singe 'here are severa
$Ps o!!ering vario"s depositary reated services. Dach $P is !ree to !i, its o&n
!ee str"ct"re Investors have the !reedom to choose a $P #ased on criteria ike
convenience , com!ort has to enter into an agreement &ith the $P 'he !orm and
contents o! this agreement are speci!ied #y the #"siness r"es o! NSL$
'ypes o! depositary acco"nt depends on the operation to #e per!ormed
'here are three types o! $emat acco"nts &hich can #e opened &ith a
depositary participant vi)
Ia8 Bene!iciary Acco"nt I#8 Cearing mem#er Acco"nts and Ic8 intermediary
acco"nt
&A&ASA& 'ATI(
77
A Study of Customer Satisfaction towards Depository Participants
Ty$es of accou)ts

&e)eficia o0)er Ceari)! #e#ber I)ter#ediary
Accou)t Accou)t Accou)t

-ouse +o)6-ouse
• A $P may #e reA"ired to open three categories o! acco"nts !or cient H
#ene!iciary acco"nt, cearing mem#er acco"nt and intermediary acco"nt
• A #ene!iciary acco"nt is an o&nership acco"nt 'he hoder?s o! sec"rities
in this type o! acco"nt o&n those sec"rities
• 'he cearing mem#er acco"nt and intermediary acco"nt are transitory
acco"nt 'he sec"rities in these are hed !or commercia p"rpose ony
• A cearing mem#er acco"nt is opened #y a #roker or a cearing mem#er
!or the p"rpose o! settement o! trades
• An intermediary acco"nt can opened #y a SDBI registered intermediary
!or the p"rpose o! stock eading and #orro&ing
&A&ASA& 'ATI(
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A Study of Customer Satisfaction towards Depository Participants
&E+E*ICIARY ACCOU+T
'his is an acco"nt opened #y investor to hod their sec"rities in
demateriai)ed !rom &ith a depository and to carry o"t the transactions o! sae
p"rchase o! s"ch sec"rities in #ook entry !orm thro"gh the depositary system A
#ene!iciary acco"nt hoder is egay entited !or a rights and ia#iities
attached to the sec"rities hed in that acco"nt 'here!ore, the acco"nt is caed
*#ene!icia o&ner acco"nt+ a #ene!icia acco"nt can #e in the name o!
individ"a, corporate, @KF, minor, #ank, !inancia instit"tion , tr"st etc or the
#roker himse! !or the p"rpose o! his persona investments in demat !orm . 'he
acco"nt is opened &ith a $P
@o"se acco"nt vs. non Hho"se acco"nt opened #y a $P !or the
c"stody o! and transactions in its o&n investment is re!erred to as a ho"se
acco"nt $PS Are reA"ired to open ho"se acco"nts !or their o&n investments
to prevent coFminging o! asset &ith that o! their cients
Neither the depositories AC' nor the reg"ations made "nder the
act ay do&n any speci!ications a#o"t &ho can open a #ene!iciary acco"nt since
a #ene!icia o&ners are deemed to #e mem#er o! a company I"nder section ;3
I98 o! the companies act8 ony those &ho are eigi#e to #ecome mem#ers o! a
company act can open a #ene!iciary acco"nt &ith a depository 'h"s a ega
entities &ith the e,ception o! partnership !irms can open an acco"nt in the
depository system
&A&ASA& 'ATI(
7;
A Study of Customer Satisfaction towards Depository Participants
"ocu#e)ts for verificatio): For the p"rpose o! veri!ication, a investors have
to s"#mit the !oo&ing doc"ments aong &ith the prescri#ed acco"nt opening
!orm
'roof of ide)tityF a #ene!iciary acco"nt m"st #e opened ony a!ter
o#taining a proo! o! identity o! the appicant 'he appicants signat"re and
photograph m"st #e a"thenticated #y an e,isting acco"nt hoder or #y the
appicant #ank or a!ter d"e veri!ication made &ith the origina o! the appicants
vaid passport , voter id , driving icense or PAN card &ith photograph and
!"rther
'roof of addressF 'he acco"nt opening !orm sho"d #e s"pported &ith
proo! o! address s"ch as veri!ied copies o! ration card? passport? voter I$? PAN
card?driving icense ? #ank pass#ook an a"thori)ed o!!icia o! the participant,
"nder his signat"re, sha veri!y the origina doc"ments
In case any acco"nt hoder !ais o prod"ce the origina doc"ments !or
veri!ication &ithin the !oreside period o! 94 days, it m"st #e immediatey
#ro"ght to the notice o! NS$L Fai"re to prod"ce the origina &ithin the
prescri#ed time &o"d invite appropriate action against s"ch acco"nt hoder,
&hich co"d even inc"de !ree)ing o! their acco"nts
&A&ASA& 'ATI(
7=
A Study of Customer Satisfaction towards Depository Participants
Co##o) i)for#atio): 'he process o! opening an acco"nt &ith a depository,
nat"re o! s"ch an acco"nt, and vario"s !actors to #e considered !or opening a
depository acco"nt are e,pained #eo&. Some detais are common to a types o!
acco"nts. 'hese are-
3. Name o! the hoder
7. $ate o! #irth I!or individ"a acco"nts8
9. Occ"pation
;. Address 1 phone ? !a, n"m#er
=. Bank detais ike name o! the #ank, type o! the acco"nt
Ic"rrent?savings8, acco"nts n"m#er, #ranch address, %IC0, etc
>. PAN n"m#er, i! appica#e
B. $etais o! nomination
:. Specimen signat"res
Bene!iciary acco"ntF proced"re !or opening an acco"nt
Investor have the choice o! seecting a $P #ased on their convenience,
com!ort, service, eves, sa!ety, rep"tation charges, etc they have !e,i#iity to
have more than one acco"nt &ith the same $P or any other $PS No minim"m
#aance is reA"ired !or opening a depository acco"nt Investor aso have the
!reedom to cose an acco"nt &ith one $P and open another one &ith any other
$P
'he type o! the acco"nt opening !rom to !ied #y an investor and the ist
o! doc"ments reA"ired depend on the type o! #ene!iciary acco"nt to #e opened
H&hether it is !or N0I/s or corporate or individ"a F"rther, the individ"a
&A&ASA& 'ATI(
7>
A Study of Customer Satisfaction towards Depository Participants
acco"nt can #e in a signa name or (oint name cearing mem#ers and #rokers
have to open in a #ene!iciary acco"nt i! they have to dea &ith their o&n
hodings
'here are severa cient types in the depository system and di!!erent
codes are aotted to them. 'hese are isted #eo&
3. 0esident
• Ordinary
• @KF
7. Financia instit"tions
• Eovernment Hsponsored FI
• State !inancia corporation
• Other
9. FIIS
• %a"riti"s H#ased
• Others
;. N0I
• 0epatria#e
• NonF0epatria#e
• $epository receipt
=. Body corporate
• $omestic company
• Overseas corporate #ody 0epatria#e
• Eovernment company
&A&ASA& 'ATI(
7B
A Study of Customer Satisfaction towards Depository Participants
• Centra government
• State government
• CoFoperative #ody
• NBFC
• Non HNBFC
• Broker
• Foreign #odies
• Ero"p companies
• Others
• OCBFNonrepatria#e
• $epository receipt
>. C% Icearing mem#er8
B. Foreign nationa H nationa ?depository receipt
:. %"t"a !"nd Hdepository receipt
C. 'r"st, Bank
34. Intermediary
Ceari)! Me#ber Accou)t
'he entities that are a"thori)ed to pay o"t !rom a cearing corporation?
cearing ho"se against traders done #y them or their cients are kno&n as
cearing mem#ers. C%s are identi!ied in the system thro"gh their C%FBP I$.
A payFin and payFo"t transactions are carried o"t thro"gh their acco"nts.
'here are t&o types o! cearing mem#ers-
3. A mem#ers o! a stock e,change pop"ary kno& as #rokers, are
cearing mem#ersN
&A&ASA& 'ATI(
7:
A Study of Customer Satisfaction towards Depository Participants
7. C"stodians &ho are permitted #y the stock e,change to act as a cearing
mem#ers.
&A&ASA& 'ATI(
7C
A Study of Customer Satisfaction towards Depository Participants
'ROCE"URE TO O'E+ A C(EARI+, MEM&ER ACCOU+T
'he steps "ndertaken to open the acco"nt are same as those o! the
individ"as, di!!erence ies in the type o! the cearing mem#ers has to !irst
register itse! &ith the depository and o#tain a #"siness partner identi!ication
n"m#er IC%FBPFI$8. 'he cearing mem#er is identi!ied #y the com#ination o!
CCFC%FI$ given #y the $P.
Immediatey a!ter opening a cearing acco"nt, the $P sho"d in!orm the
depository the detais o! cearing mem#ers name, C%FBPFI$, cientFI$, and
date o! the opening the acco"nt in $P% system.
'he cearing acco"nt sho"d ony #e !or cearing and settement p"rpose and
nit !or any other p"rpose, e.g., hoding o! sec"rities received in a settement received
in a settement acco"nt sho"d #e trans!erred to the trans!erred to respective #ene!icia
acco"nts as soon as possi#e, #"t in no case ater than the time prescri#ed #y the
depository? stock e,change? SDBI in this regard. 'he opening o! cearing mem#ers
acco"nt constit"tes a *standing instr"ction+ to receive credits !rom the cearing
corporation &hen there is a $ay6out2
'he Cearing @o"se deas &ith ONL6 OND designated acco"nt !or payFin
and payFo"t &ith the Broker. 'his singe acco"nt ao&s yo" to kno& to &hich
acco"nt sec"rities m"st #e deivered and received !rom. One Cearing %em#er Poo
Acco"nt is opened per card ? Stock D,change to sette trades in the $emateriaised
!orm.
&A&ASA& 'ATI(
94
A Study of Customer Satisfaction towards Depository Participants
Structure Of Ceari)! Accou)t
'he cearing acco"nt is identi!ied in the depository system #y its C%F
BPFI$. 'he interna str"ct"re o! the Cearing Acco"nt consists o! three parts to
!aciitate easy #ook keeping.
• Arra)!e#e)t of ceari)! accou)t
? Poo Acco"nt
? $eivery Acco"nt
? 0eceipt Acco"nt
Cearing Corporation ICC8?Cearing @o"se IC@8
Ceari)! Accou)t
$eivery Acco"nt Poo Acco"nt
0eceipt Acco"nt

a: 'oo Accou)t: It has t&o roes in cearing o! Sec"rities, vi)., #e!ore
payFin, the seing cient o! the cearing mem#er trans!ers sec"rities !rom
his cient Acco"nt to the Cearing Acco"nt. A!ter receiving payFo"t, the
cearing mem#er trans!ers sec"rities !rom his Cearing Acco"nt to the
acco"nt o! the #"ying cient.
b: "eivery Accou)t: 'he sec"rities #e!ore payFin, the sec"rities move
!rom the Poo Acco"nt 'o the $eivery Acco"nt. 'he movement &i #e
a"tomatic i! cearing mem#er has given s"ch an "ndertaking to its
&A&ASA& 'ATI(
93
Seing
cient
B"ying
Cient
A Study of Customer Satisfaction towards Depository Participants
Cearing I! the Cearing Corporation. It &i #e e!!ected on the #asis o!
instr"ction received !rom the Cearing ho"se? Cearing Corporation. I!
the cearing ho"se? Cearing Corporation has not taken s"ch
"ndertaking, the cearing mem#er to its $P m"st s"#mit a deivery
instr"ction !orm. At the time o! payFin, NS$L !"shes o"t the sec"rities
in the $eivery Acco"nt 1 trans!ers the same to the Cearing ho"se?
Cearing Corporation.
c: Recei$t Accou)t: On payFo"t day, the Cearing ho"se? Cearing
Corporation trans!ers sec"rities to the Poo Acco"nt Ito 'he e,tent o! net
receipt8 thro"gh the 0eceipt Acco"nt. 'his acco"nt can #e "sed to trace
detais o! settementF&ise receipt o! the cearing mem#er.
Mar8et Ty$e / Sette#e)ts +u#ber: A cearing acco"nt can #e #roken
into compartment and s"#Fcompartments. Dach compartment can #e caed as
market type and #e as settement n"m#er. @ence, i! sec"rities are moved !rom
any cearing acco"nt, apart !rom the C%FBPFI$, the com#ination o! market
type and settement n"m#er m"st #e provided. A diagrammatic i"stration o!
the interna str"ct"re o! a cearing acco"nt is depicted in ne,t page.
&A&ASA& 'ATI(
97
A Study of Customer Satisfaction towards Depository Participants

Sette#e)t cae)dar: Settement caendar is decided #y the stock e,change. It
contains detais !or each market type 1 settement n"m#er. 'he detai !or each
settement consists o! the date o! trading, payFin time, payFo"t date, settement
n"m#er etc. Cearing mem#er can o#tain the settement caendar !rom its o&n stock
e,change. 'his is aso avaia#e in the depository so!t&are o! the $P.
&A&ASA& 'ATI(
99
Physica 0oing Action 0oing
744443;
$eivery Poo 0eceipt
744443=
$eivery Poo 0eceipt
74447;:
$eivery Poo 0eceipt
C4443=7
$eivery Poo 0eceipt
C4443=9
$eivery Poo 0eceipt
C4443=7
$eivery Poo 0eceipt
744443>
$eivery Poo 0eceipt
74447;C
$eivery Poo 0eceipt
74447;:
$eivery Poo 0eceipt
Cearing Acco"nt
IIN=497>=8
A Study of Customer Satisfaction towards Depository Participants
MAR5ET TRA+S*ERS: Any trade, &hich is ceared 1 setted #y the cearing
ho"se? Cearing Corporation o! the stock e,change, is considered as a market trade in
the depository. ConseA"enty, the trans!ers ro"ted thro"gh the cearing acco"nt.
'ypicay, a market trade has the !oo&ing egs o! transactions.
a. 0eceiving sec"rities !or payFin !rom cients Icient to cearing
mem#ers8
#. $eivering sec"rities to the cearing ho"se?cearing corporation !or
payFin. Icearing ho"se?cearing corporation8
c. 0eceiving payFo"t !rom the cearing ho"se?cearing corporation.
ICearing @o"se?cearing Corporation to cearing mem#er8
d. $istri#"tion o! payFo"t to cients. ICearing mem#er to cient8
A diagrammatic i"stration o! the settement o! a market trade in a
depository is depicted #eo&-
" C
A &

&A&ASA& 'ATI(
9;
$P o! Seer/s
C%
$P o! B"yer/s
C%
$P o! Seer
+S"(
C@?CC
$P o! #"yer
A Study of Customer Satisfaction towards Depository Participants
Receivi)! securities for $ay6i) fro# cie)ts ;cie)t to ceari)! #e#ber:
A seing cient o! a cearing mem#er I#roker8 &o"d trans!er sec"rities !rom
his #ene!icia o&ner acco"nt to the cearing acco"nt o! the cearing mem#er !or
on&ards deivery to the cearing ho"se?cearing corporation. 'his trans!er is e!!ected
#y his $P on the #asis o! a deivery instr"ction provided #y the seing cient. A
diagrammatic I"stration !or sec"rities received !or payFin !rom cients is depicted
#eo&-
Indicates !o& o! sec"rities
Indicates paper ?eectronic instr"ction given.
O** MAR5ET TRA+S*ERS: Any trade, &hich is not ceared and setted
#y the cearing ho"se?cearing corporation o! the stock e,change, is considered
as an o!!Fmarket trade in the depository. ConseA"enty, the trans!er is not ro"ted
thro"gh the cearing acco"nt. S"ch trans!ers take pace directy #et&een t&o
#ene!iciary acco"nts. Both #"yer and seer may open acco"nt either &ith the
same $P or &ith di!!erent $Ps. 'he #"yer and seer &i trade amongst
&A&ASA& 'ATI(
9=
NS$L
$P3
$P7
Seer
A
AAAe
r A
Cearing
%em#er
Seer
C
Seer
B
A Study of Customer Satisfaction towards Depository Participants
themseves and ater on &i e,change money, i.e., sette !"nds amongst
themseves. 'he seing cient &o"d deiver sec"rities !rom its #ene!iciary
acco"nt to the #ene!iciary acco"nt o! the #"ying cient. 'his trans!er is e!!ected
#y the $P o! the seing cient on the #asis o! a deivery instr"ction provided #y
the seing cients. A diagrammatic i"stration o! the settement o! an o!!F
market trade in depository is depicted #eo&-
Indicates !o& o! sec"rities
Indicates paper ?eectronic instr"ction given.
&A&ASA& 'ATI(
9>
A Study of Customer Satisfaction towards Depository Participants
"e$ository:
A $epository is a Company &here the shares o! an individ"a are hed in the
eectronic !orm, at the reA"est o! the sharehoder. 'his eiminates the physica !orm o!
hoding. I$BI, K'I, SBI and NSD promoted the Nationa Sec"rities $epository
Limited INS$L8. 'he Centra Sec"rities $epository Limited IC$SL8 &as promoted
#y BSD.
6o"r money may #e hed in the !orm o! iA"id cash at yo"r home or may
#e deposited in a #ank. 'he #ank hods yo"r !"nds in the eectronic !orm and
s"#seA"enty de#its or credits the acco"nt. $epending on yo"r iss"ance o!
cheA"es or deposit o! cheA"es. 'he advantages o! sa!ety and convenience o!
deaing &ith a Bank over&eigh the reasons !or hoding iA"id cash in yo"r
home. 6o"r !inancia assets s"ch as DA"ity Shares may #e compared to the
a#ove e,ampe. 6o" may hod physica share certi!icates in yo"r home and #e
e,posed to the vario"s risks o! ack o! sa!ety, m"tiation, oss etc. Aternativey,
yo" may deposit yo"r shares in an organi)ation caed a $epository, &hich
hods yo"r shares in the eectronic !orm. 6o" can demateriai)e shares o! ony
those companies that have signed agreement to demateriai)e their shares &ith
the depository. 6o" cannot demateriai)e shares i! they are not in yo"r name,
i.e. shares hed in street name Imarket deiveries8 cannot #e demateriai)ed.
@o&ever, &hen yo" send shares to the registrar to #e trans!erred to yo"r name
yo" can reA"est that yo" &ant those shares in demateriai)ed !orm.
&A&ASA& 'ATI(
9B
A Study of Customer Satisfaction towards Depository Participants
Karvy Cons"tants Ltd. has !o"r $P%s as on date. 'hey are-
3.@ydera#adFIN9449C;
7.L"ckno& F IN943==B
9.BangaoreF IN943C7>
;. %"m#ai F IN947;B4
In India depositories are reA"ired to #e registered &ith SDBI and are
governed #y the provision o! the $epositories Act, 3CC> and reg"ation and
#ya&s !ramed !or depositories #y the SDBI.
'he depositories &ork in a competey comp"teri)ed environment &ith
eectronic inkages &ith the point o! origination !or the transactions that may
ca"se the change in o&nership o! sec"rities. A depository &i #e eectricay
inked &ith the 0egister o! the mem#ers maintained #y the company?registrar,
cearing and settement system in the stock e,changes, stock ending
organi)ation Ii! in e,istence8, c"stodians o! sec"rities, depository participants
and #rokers.
*u)ctio) of "e$ository
"e#aterisatio): one o! the primary !"nctions o! depository is to eiminate or
minimi)e the movement o! the physica sec"rities in the market. 'his is achieved
thro"gh demateriaisation o! sec"rities. $ematerisation is the process o! converting
sec"rities hed in physica !orm into hodings in #ook entry !orm.
&A&ASA& 'ATI(
9:
A Study of Customer Satisfaction towards Depository Participants
Accou)t Tra)sfer: 'he depository gives e!!ect to a trans!ers res"ting !rom
the settement o! trade and other transactions #et&een vario"s #ene!icia
o&ners #y recording entries in the acco"nts o! s"ch #ene!icia o&ners.
Tra)sfer a)d Re!istratio): A trans!er is the ega change o! o&nership o! a
sec"rity in the records o! the iss"er. For e!!ecting a trans!er, certain ega steps
have to #e taken ike endorsement, e,ec"tion o! a trans!er o! sec"rity occ"rs
merey #y passing #ook entries in the records o! the depositories, on the
instr"ctions o! the #ene!icia o&ners.
Cor$orate Actio)s: A depository may hande corporate actions in t&o &ays.
In the !irst case, it merey provides in!ormation to the iss"er a#o"t the persons
entited to receive corporate #ene!its. In the other case, depository itse! takes
the responsi#iity o! distri#"tion o! corporate #ene!its.
'ed!e a)d hy$othecatio)- $epositories ao& the sec"rities paced &ith
them to #e "sed as coatera sec"rities in physica !orm to the ender or its
c"stodian. 'hese sec"rities are veri!ied !or a"thenticity and o!ten need to #e
trans!erred in the name o! ender. 'his has a time and money cost #y &ay o!
trans!er !ees or stamp d"ty. I! the #orro&er &ants to s"#stit"te the
Pedging?@ypothecating the sec"rities makes the process very simpe and
coatera acco"nting thro"gh #ook entries in the records o! the depository.
(i)8a!e 0ith ceari)! syste#- &hether it is a separating cearing
corporation attached to a stock e,change or a cearing ho"se Idepartment8 o! a
&A&ASA& 'ATI(
9C
A Study of Customer Satisfaction towards Depository Participants
stock e,change, the cearing system per!orms the !"nction o! ascertaining the
payFin Ise8 or payFo"t I#"y8 o! #rokers &ho have traded on the stock
e,change. Act"a deivery o! sec"rities to the cearing system !rom the seing
and deivery o! sec"rities !rom the cearing system to the #"ying #roker is done
#y the depository. 'o achieve this, depositories and the cearing system sho"d
#e eectronicay inked.
&A&ASA& 'ATI(
;4
A Study of Customer Satisfaction towards Depository Participants
"e$ository 'artici$a)t:
$epository Participant I$P8 is an organisation that acts as an Agent o! the
$epository and interacts &ith the investor. A $P is responsi#e !or maintaining yo"r
sec"rities acco"nt and operating it ony "nder yo"r &ritten instr"ctions. 'he
$epositories Acts mandates that investors can "se $epository !aciities ony thro"gh
$P/s. 'he distri#"tion channe and geographica spread o! the $P/s o!!ices ao&s yo"
to access the $epository at a o& cost. $P can ony access their o&n cientsL
in!ormation. 'hey cannot access the cient in!ormation o! any other $P. 'he
in!ormation o! yo"r hodings in the acco"nt is competey con!identia1 it is simiar
to yo"r acco"nt #aance in a #ank.
6o" can seect yo"r $P to open a demat acco"nt ("st ike yo" seect a #ank
!or opening a savings acco"nt. Some o! the important !actors !or seection o! a
$P can #e-
3. Convenience F Pro,imity to yo"r o!!ice?residence, #"siness ho"rs.
7. Com!ort F 0ep"tation o! the $P, past association &ith the organisation,
&hether the $P is in a position to give the speci!ic service yo" may
needP
9. Cost F 'he service charges evied #y $P and the service standards.
Individ"a acco"nts can #e opened #y Ordinary 0esident, @KF, N0I
0epatria#e and N0I NonF0epatria#e. Body Corporate, Banks, 'r"sts, Financia
Instit"tions, Foreign Instit"tiona Investors, and Overseas Commercia Banks etc can
open corporate Acco"nts. An acco"nt can #e opened in the name o! @KF in a simiar
&A&ASA& 'ATI(
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A Study of Customer Satisfaction towards Depository Participants
&ay to individ"a acco"nt and mentioning the acco"nt category as @KF. @o&ever,
Kartha o! @KF &i sign the appication, agreement and a transactions "nder the
acco"nt
An acco"nt cannot #e opened in the name o! the !irm. It has to #e opened in
the name o! any o! the Partner as an Individ"a acco"nt ony.
'rocedure for "e#ateriaisatio)
"e#ateriaisatio) 'rocess:
<
=A = >
?
@
Ste$s:
3. Cient? investor s"#mits the $0F I$emat 0eA"est Form8 and Physica
certi!icates to $P. $P checks &hether the sec"rities are avaia#e !or demat.
Cient de!aces the certi!icates #y stamping QS"rrender !or $ematerisation/.
$P p"nches t&o hoes on the name o! the company and dra&s t&o parae
ines across the !ace o! the certi!icate.
7. $P enters the demat reA"est in his system to #e sent to NS$L. $P dispatches
the physica certi!icates aong &ith the $0F to the 0 1 ' Agent.
9. NS$L records the detais o! the eectronic reA"est in the system and !or&ards
the reA"est to the 01' Agent.
&A&ASA& 'ATI(
;7
I)vestor
R / T A!e)t
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A Study of Customer Satisfaction towards Depository Participants
;. 01' Agent, on receiving the physica doc"ments and the eectronic reA"est,
veri!ies and checks them. Once the 01' Agent is satis!ied, $emateriaisation
o! the concerned sec"rities is eectronicay con!irmed to NS$L.
=. NS$L credits the demateriai)ed sec"rities to the #ene!iciary acco"nt o! the
investor and intimates the $P eectronicay. 'he $P iss"es a statement o!
transaction to the cient.
a. $Ps provide $ematerisation reA"est !orms I$0F8 to their cients.
#. 'he cient competes the $0F in a respect B s"#mits to the $P aong
&ith the sec"rity certi!icates to #e demateriai)ed.
c. 'he $P checks the $0F !or vaidity, competeness and correctness.
'he !oo&ing points sho"d #e checked partic"ary-
? 'he sec"rity certi!icate so"ght to #e demateriai)ed are attached
to $0F.
? 'he attached sec"rity certi!icates are marked Ide!aced8 &ith the
&ords Qs"rrendered !or demateriaisation/. 'his is a preca"tionary meas"re
to prevent mis"se o! share certi!icates #y anyone.
? 'he certi!icate are not m"tiated or de!aced in a manner
a!!ecting any materia in!ormation.
? 'he name o! cient on $0F and the certi!icates is e,acty the
same as in the cient/s acco"nt in $P%. @o&ever, minor variations in the
name Iike a##reviated name, initias in the pace o! !irst name, midde
name, minor name mistake in the name8 may #e permitted i! it can #e
reasona#y esta#ished that #oth names are o! the same person. 'he
permitted variations re!er to initias not #eing spet o"t !"y or p"t prior to
a!ter the s"rname. In s"ch cases, i! the signat"re on the $0F matches the
&A&ASA& 'ATI(
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A Study of Customer Satisfaction towards Depository Participants
specimen signat"re avaia#e &ith the $P, the sec"rities can #e considered
!or demat.
? $etais ike sec"rity type, !ace va"e, paidF"p va"e, pari pass"
stat"s, certi!icate n"m#ers, distinctive n"m#ers, n"m#er o! certi!icates,
tota A"antity o! sec"rities and ockFin stat"es are !iedFin correcty.
d. I! the $0F 1 the accompanying sec"rity certi!icates are !o"nd in
order, the $P sho"d accept the $0F and certi!icates.
e. I! $0F and the accompanying sec"rity certi!icates are not !o"nd in
order, the $P sho"d ret"rn the $0F and certi!icates.
!. 'he $P sho"d enter the demateriaisation reA"est in the $P%. $P%
generates a reA"est n"m#er I$0N8, &hich sho"d #e mentioned on $0F.
g. An a"thori)ed person, other than one &ho entered the $0F detais in
the $P%, sho"d veri!y the detais o! $0N and reease a reA"est to NS$L.
h. Once the $P has received the certi!icates de!aced #y investor, the $P
p"nches t&o hoes on the name o! the iss"er or its 01' Agent !or
demateriaisation. $0F and encos"res have to #e sent at the *address to &hich
physica certi!icate to #e sent+ comm"nicated #y NS$L. 'he !or&arding etter
sho"d re!er to the aotted $0N and sho"d re!er to the aotted $0N and
sho"d Be sent &ithin seven days o! accepting it !rom the cient.
i. 'he iss"er or its 01' Agent veri!y the $0F 1 the accompanying
certi!icate !or vaidity, competeness and correctness. 'hey aso match the
detais &ith the intimation received !rom NS$L against the same $0N.
(. In case $0F is not !o"nd in order, the iss"er or its 01' Agent send an
o#(ection memo to the $P, &ith or &itho"t $0F 1 sec"rity certi!icates
depending "pon the reason !or re(ection.
k. $0Fs 1 Certi!icate are sent #ack on the !oo&ing gro"nds-
&A&ASA& 'ATI(
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A Study of Customer Satisfaction towards Depository Participants
• $0N does not match &ith message !rom $%
• ."antity o! act"a sec"rities is ess than $0F
• ."antity o! act"a sec"rities is more than $0F
. $0F 1 certi!icate are not sent #ack-
• I! the certi!icate is !ake
• I! the certi!icate has #een reported to #e stoen
• I! the d"picates o! the origina certi!icates sent !or demat have aready #een
iss"ed
• I! the endorsements are !orged
• I! the sec"rities are not in the name o! the acco"nt hoder as per $0F
• I! the detais o! the certi!icates do not pertain to the 01' Agent
• I! the signat"res di!!er
• I! there is any co"rt order on the sec"rities
• I! the certi!icate are received a!ter 3= days o! the eectronic reA"est.
m. 'he $P in!orms the cient accordingy 1 reA"ests remova o! reasons
!or o#(ection. 'he $P removes these or provides additiona in!ormation to the
iss"er or its 0 1 ' Agent &ithin 3=days o! receiving the o#(ection memo.
n. 'he $P, i! the cient so reA"ires, may generate a ne& demateriaisation
reA"est 1 send the sec"rities again to the iss"er or 0 1' Agent.
'recautio) to be ta8e) 0hie $rocessi)! "R*
? Dns"re acco"nt to have the same seA"ence o! names o! hoders and name
str"ct"re as printed on the physica certi!icate.
? Dns"re ISIN is activated
? Separate $0F !or-
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A Study of Customer Satisfaction towards Depository Participants
• Party 1 !"y paidF"p shares
• Locked 1 !ree hoding
• @odings ocked in !or di!!erent reasons
• Locked in hodings having di!!erent reease date
• $i!!erent ISINs o! the company
? ISIN to #e entered #y $P.
? A (oint hoders to sign $0F.
? Check $0F !orm &ith detais on certi!icate.
&A&ASA& 'ATI(
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A Study of Customer Satisfaction towards Depository Participants
"EMAT 'ROCESS
'he demat process reA"ires de!acing o! sec"rities &hich &i make the
sec"rity certi!icate "ndeivera#e "ness the demat !ormaities are competed.
'here!ore, the cient sho"d #e assisted in ascertaining &hether the sec"rities in
A"estion are avaia#e !or demineraisation. Cients sho"d #e heped in !iing
"p the demat reA"est propery. $emat re(ection ca"ses great inconvenience to
the cient. $P sho"d attend to this area &ith care and ca"tion. One o! the
important reasons !or demat re(ection is signat"re mismatch. 'aking the
!oo&ing preca"tion can red"ce this-
? I! the cient is a&are that the signat"re &ith the company1 signat"re o!
the cient sho"d #e advised to the register the ne& signat"re.
? I! the signat"re is sighty di!!erent, cient sho"d #e advised to sign as
per the signat"re that &as recorded #y the company and as recorded &ith
the $P.
? Dns"re dispatch o! $0Fs and certi!icate to 0 1' Agents &ithin seven
days.
? Cient may #e enco"raged to "se the 'rans!erFc"mFdemat !aciity i! it is
o!!ered #y the company. 'hey sho"d #e made a&are o! the proced"res
o! the scheme.
? In case o! (oint hodings, the cients sho"d #e in!ormed a#o"t the
avaia#iity o! 'ransposition c"m $emat !aciity.
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A Study of Customer Satisfaction towards Depository Participants
C(OSURE O* ACCOU+T:
Cos"re on Cient/s 0eA"estF A $P can cose a depository acco"nt on receipt
o! an appication in the prescri#ed !ormat. 'he appication sho"d #e made #y the
acco"nt. In case (ointFhoders. An acco"nt can #e cosed so"ght to #e cosed, the
!oo&ing steps are necessary.
a. 0eFmateriai)ation o! a sec"rities standing to the
credit o! the same acco"nt making the appication !or cos"reN or
#. 'rans!erring the #aance to the credit o! another
acco"nt opened #y the same acco"nt hoderIs8 either &ith the same
participant or &ith a di!!erent participant.
Be!ore cosing the acco"nt the $P sho"d ens"re that a pending transactions
have #een setted. 'he reA"est !or cos"re sho"d #e processed ony a!ter ens"ring that
there is no #aance ying in the acco"nt.
Co)soidatio)s of accou)ts6 Some cients have opened m"tipe acco"nts to
demateriai)e their shares hed in m"tipe com#ination and seA"ence o! names.
@o&ever, they may not need so many acco"nts a!ter they have demateriai)ed
their shares and may &ant to #ring a their share hodings into one or !e&er
acco"nts. 'his can #e achieved #y "sing norma o!! %arket trans!er instr"ction.
Cosure by "' H the $P may aso initiate cos"re o! a cient/s acco"nt i! the
cient has de!a"ted in per!orming sho"d give s"!!icient notice to the cient
#e!ore initiating cos"re o! his acco"nt. 'he notice sho"d ceary state the
reasons !or cos"re o! his acco"nt. 'he notice sho"d ceary state the reasons
&A&ASA& 'ATI(
;:
A Study of Customer Satisfaction towards Depository Participants
!or cos"re o! acco"nt. 'he process o! cosing acco"nt in s"ch a case is the
same that o! cientFinitiated cos"re.
CosureA Shifti)! of Ceari)! Accou)t HA cearing mem#er may trans!er
its cearing acco"nt !rom one $P to another $P. For this, sim"taneo"sy
appications have to #e made !or cos"re o! acco"nt to the earier $P and !or
opening o! ne& cearing mem#er acco"nt to the ne& $P. On receipt o! the
appication, the ne& $P !or&ards the appication to the depository !or approva
and aotment o! a ne& C%FBPFI$ is aotted, the ne& $P opens a ne&
Cearing acco"nt and intimates the depository a#o"t the ne& cientF I$. On
receipt o! intimation !rom the intimates the cearing mem#er. A payFo"t o!
sec"rities, s"#seA"ent to the cos"re o! od cearing acco"nt, take pace in the
ne& acco"nt. PgF3BF9
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A Study of Customer Satisfaction towards Depository Participants
TRA"I+, / SETT(EME+T:
'his is the an area &here the $P m"st the $P m"st take immense care
&hie accepting and processing reA"est isted #eo& sho"d !rom the acco"nt o!
his cient to another acco"nt. 'he aspects isted #eo& sho"d #e kept in mind.
? Dns"re that the deivery instr"ction #ook given to each cient has preF
printed seria n"m#er and cientFI$.
? In!orm cients a#o"t the payFin deadine o! the stock e,change and the
deadine o! the $P.
? Dach $IS received sho"d #e in&arded correcty &ith the date and time
stamp.
? Late stamp m"st #e a!!i,ed on the instr"ctions received a!ter the e,piry
o! the deadine set #y the $P.
? Dns"re the correctness o! e,ec"tion date on the $IS.
? Dns"re signat"re on $IS matches &ith the records o! the $P.
? Dns"re that the signat"res o! a hoders are o#tain in case o! (oint
acco"nts.
? I! the cient has not iss"ed *standing instr"ctions+, he sho"d #e made
a&are that a receipt in instr"ction &i #e reA"ired to the credits into the
acco"nt on p"rchase o! shares.
? Cient sho"d #e made a&are o! the acco"nting !ree)ing !aciity.
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A Study of Customer Satisfaction towards Depository Participants
SETTLEMENT
'he settement o! trades in the stock e,changes is "ndertaken #y the cearing
corporation ICC8? cearing ho"se IC@8 o! the corresponding stock e,changes. 2hie
the settement o! demateriai)ed sec"rities is e!!ected thro"gh depository, the !"nds
settement is e!!ected thro"gh the cearing #anks. 'he cearing mem#ers directy &ith
the CC? C@ sette the physica sec"rities.
D,c"sive demat segment !oo&s roing settement I'R=8 cyce and the
"ni!ied Ierst&hie F physica8 segment !oo&s acco"nt period settement cyce. In case
o! roing settement cyce, the acco"nt period is red"ced to one day.
• In case o! settement o! trades done in e,c"sive demat segments, the payFin
and pay o"t o! !"nds and sec"rities are e!!ected on the same day a!ternoon and
evening Isame day8 th"s red"cing the #ockage o! !"nds and imiting e,pos"re
to the cearing corporation.
• Settement o! !"nds is e!!ected thro"gh the cearing #anks and depository
pays no roe in this.
• Settement o! sec"rities is e!!ected thro"gh NS$L depository system.
• Cearing and settement o! the reg"ar market trades is e!!ected thro"gh the
cearing mem#ers o! the cearing ho"ses o! respective stock e,changes. A
trading mem#ers o! stock e,changes are cearing mem#ers o! cearing ho"ses.
In addition, !or settement o! instit"tiona trades, c"stodians are aso ao&ed
to act as cearing mem#ers.
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A Study of Customer Satisfaction towards Depository Participants
• Cearing mem#ers o! cearing ho"se, deaing in demateriai)ed sec"rities are
e,pected to open a cearing acco"nt &ith any $P !or the p"rpose o! setting
trades in demateriai)ed sec"rities. As, in the mi,ed I"ni!ied8 segment, there is
a possi#iity !or a cearing mem#ers to receive demateriai)ed sec"rities, they
are e,pected to open cearing acco"nts.
I! there is any short deivery at the time o! payFin o! sec"rities, these
short positions are a"ctioned in the $emat segment as done in the Kni!ied
Ierst&hieFphysica8 segment.
Sei)! a)d &uyi)! Of Shares:
Seing demateriai)ed shares in stock e,changes is simiar to the
proced"re !or seing physica shares. Instead o! deivering physica shares to
the #roker, yo" instr"ct yo"r $P to de#it yo"r acco"nt &ith the n"m#er o!
shares sod #y yo" and credit yo"r #rokerLs cearing acco"nt.
For this, a deivery instr"ction has to #e given to yo"r $P in a standardi)ed
!ormat, &hich &i #e avaia#e &ith yo"r $P.
In short, !or seing demat sharesN
• 6o" can se shares in any o! the stock e,changes inked to a depository
thro"gh a #roker o! yo"r choice.
• Eive an instr"ction to yo"r $P to de#it yo"r acco"nt and credit yo"r
#rokerLs cearing mem#er poo acco"nt. Ithis is a depository acco"nt
"sed e,c"sivey !or setting transactions #y a #roker8
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A Study of Customer Satisfaction towards Depository Participants
• On the payFin day, yo"r #roker gives instr"ction to his $P !or deivery o!
the shares to cearing corporation o! the reevant stock e,change.
• 'he #roker receives payment !rom the cearing corporation
• 6o" receive payment !rom yo"r #roker !or the sae in the same manner
yo" &o"d receive payment !or a sae in the physica mode.
&uyi)! "e#at Shares:
'he proced"re !or #"ying demateriai)ed shares in stock e,changes is
simiar to the proced"re !or #"ying physica shares. 2hen yo" &ant to
p"rchase shares in eectronic !orm, yo" have to instr"ct yo"r #roker to
p"rchase the demateriai)ed shares !rom the stock e,changes inked to a
depository.
Once the order is e,ec"ted, yo" have to instr"ct yo"r $P Ivide a simpe !ormat
&hich is avaia#e &ith the $P8 to receive sec"rities !rom yo"r #rokerLs cearing
acco"nt.
Aternativey, yo" may give a standing instr"ction to receive credits into yo"r
acco"nt and do a&ay &ith giving a separate receipt instr"ction each time yo" e,pect a
credit. 6o" have to ens"re that yo"r #roker too gives a matching instr"ction to his $P
to trans!er the shares p"rchased on yo"r #eha! into yo"r depository acco"nt.
6o" sho"d aso ens"re that yo"r #roker trans!ers the shares p"rchased !rom
his cearing acco"nt to yo"r depository acco"nt, #e!ore the #ook cos"re. 'his is reay
important #eca"se shares that remain in the cearing acco"nt o! the #roker on the #ook
cos"re? record date &i not #e eigi#e !or corporate #ene!its.
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A Study of Customer Satisfaction towards Depository Participants
In #rie!, the transactions reating to p"rchase o! shares are-
• 6o" can p"rchase shares in any o! the stock e,changes connected to a
depository thro"gh a #roker o! yo"r choice and make a payment to yo"r
#rokerN
• 6o"r #roker receives credit in his cearing acco"nt &ith his $P on the
payFo"t dayN
• Broker gives instr"ctions to his $P to de#it his cearing acco"nt and
credit yo"r acco"ntN
• 6o" instr"ct yo"r $P !or receiving credit into yo"r depository acco"nt
either thro"gh a speci!ic receipt instr"ction or "sing the Mstanding
instr"ctionM !aciity.
• In case yo" are not "sing the Mstanding instr"ctionM !aciity then, yo"r
depository acco"nt is credited ony i! the instr"ctions given #y yo" and
yo"r #roker match.
Other Services
Besides demat and trading $epositories aso o!!er other services, these are-
o Pedging? hypothecation o! demateriai)ed sec"rities.
o Dectronic credit in p"#ic o!!erings o! companies.
o 0eceipt o! nonFcash corporate #ene!its s"ch as #on"s, rights in eectronic
!orm.
o Stock ending and #orro&ing.
o 'ransmission o! sec"rities.
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A Study of Customer Satisfaction towards Depository Participants
'ed!i)!: $emateriai)ed shares co"d #e pedgedN in !act, this is more
advantageo"s as compared to pedging share certi!icates.
'o pedge yo"r $emat shares
• Both yo" Ipedgor8 as &e as the ender Ipedgee8 m"st have depository
acco"nts.
• 6o" m"st initiate the pedge #y s"#mitting the detais o! the sec"rities to
#e pedged in a standard !ormat Iavaia#e &ith $Ps8.
• 'he pedgee sho"d con!irm the reA"est thro"gh his $P.
• Once this is done, yo"r sec"rities are pedged
• A commercia doc"mentation #et&een the pedgor and the pedgee are
handed o"tside the depository system.
A!ter yo" have repaid yo"r oan, yo" can reA"est !or a cos"re o! pedge #y
instr"cting yo"r $P thro"gh a standard !ormat. 'he pedgee on receiving the
repayment as &e as the reA"est !or cos"re o! pedge &i instr"ct his $P
accordingy.
Dven the ockedFin sec"rities can #e pedged, ho&ever they cannot #e invoked
#e!ore the ockFin reease date.
Dven a!ter the sec"rities are pedged, the pedgor contin"es to remain the
#ene!iciary hoder o! those sec"rities and &i receive #ene!its o! a corporate action, i!
any.
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A Study of Customer Satisfaction towards Depository Participants
I)itia 'ubic Offeri)!s: Credits !or p"#ic o!!ers can #e directy received into
demat acco"nt. In the p"#ic iss"e appication !orm o! depository eigi#e companies,
there &i #e a provision to indicate the manner in &hich sec"rities sho"d #e aotted
to the appicant. A yo" have to do is to mention yo"r cient acco"nt n"m#er and the
name and identi!ication n"m#er o! yo"r $P.
Any aotment d"e to yo" &i #e credited into yo"r acco"nt.
I! the appicant is aotted sec"rities in demateriai)ed !orm, #"t the detais
regarding the #ene!iciary acco"nt are incompete? &rong, the person &i get physica
deivery o! aotted sec"rities.
I! sec"rities &ere aotted in the demateriai)ed !orm, these &o"d #e credited
to appicant/s acco"nt any day #et&een aotment date and isting date, at the
discretion o! the company.
'he iss"er company? their 01' agent &i !or&ard the appicant the aotment
advice giving the n"m#er o! shares aotted in demateriai)ed !orm. 'hro"gh this yo"
can come to kno& that yo" have #een aotted shares.
An amendment to the company a& reA"iring a !"t"re p"#ic iss"es a#ove
0s344mn to comp"soriy o!!er sec"rities in demateriai)ed !orm is a&aiting
egisative approva. A!ter this a the iss"es a#ove 0s344mn &i reA"ire investors to
trade ony in demat &ay.
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A Study of Customer Satisfaction towards Depository Participants
Party paid "p and !"y paid "p shares in the depository, &i #e given separate
ISINs IInternationa Sec"rities Identi!ication N"m#er8. 'hese are aso traded
separatey at the stock e,changes.
'he company iss"es ca notices to the #ene!icia hoders o! sec"rities in the
eectronic !orm. 'he detais o! s"ch #ene!icia hoders &i #e provided to the iss"er?
their 01' agent #y NS$L. A!ter the ca money reai)ation, iss"er? their 01' agent
&i eectronicay convert the party paid "p shares to !"y paid "p shares.
Recei$t Of CashA +o)6Cash &e)efits: 2hen any corporate event s"ch as
rights or #on"s or dividend is anno"nced !or a partic"ar sec"rity, depository &i give
the detais o! a the cients having eectronic hodings in that sec"rity as o! the record
date to the registrar. 'he registrar &i then cac"ate the corporate #ene!its d"e to a
the sharehoders. 'he dis#"rsement o! cash #ene!its s"ch as dividend? interest &i #e
done directy #y the registrar. In case o! nonFcash #ene!its, depository &i directy
credit the sec"rities entitements in the depository acco"nts o! a those cients &ho
have opted !or eectronic aotment #ased on the in!ormation provided #y the registrar.
'he #on"s? rights iss"e against hoding in demateriai)ed !orm can #e either in
the physica? demateriai)ed !orm as per the choice o! the investor. I! no choice is
given, #y de!a"t, the sec"rities &i #e iss"ed in the physica !orm.
Dven i! an investor has hodings in physica !orm, he can receive the #on"s?
rights iss"e against this in the demateriai)ed !orm.
In case o! !ractiona part, as in the physica segment, it &o"d #e paid in cash
and the remaining &hoe part &o"d #e credited to the investors acco"nt.
&A&ASA& 'ATI(
=B
A Study of Customer Satisfaction towards Depository Participants
'he statement o! hoding and transaction statement is sent #y the investors $P,
it &i sho& the #on"s? rights credit into investor/s acco"nt. 'his report is sent to the
investor every !i!teen days. In addition, an aotment advise &i #e send #y the iss"er?
their 01' agent !or #on"s? rights entitement.
Stoc8 (e)di)! a)d borro0i)!: 'hro"gh the depository acco"nt sec"rities in
the demat !orm can #e easiy ent? #orro&ed. Sec"rities can #e ent or #orro&ed in
eectronic !orm thro"gh an approved intermediary, &ho has opened a specia
LintermediaryL acco"nt &ith a $P.
To (e)d Securities: 6o" have to instr"ct yo"r $P thro"gh a standard !ormat
I&hich is avaia#e &ith yo"r $P8 to deposit yo"r sec"rities &ith the intermediary.
I! the intermediary accepts yo"r deposit o! sec"rities, the sec"rities &i #e
moved !rom yo"r acco"nt into the intermediaryLs acco"nt. I! yo" &ish to reca the
sec"rities ent #y yo", yo" can make a reA"est vide a standard !ormat avaia#e &ith
yo"r $P.
To &orro0 Securities: 6o" have to instr"ct yo"r $P thro"gh a standard !ormat
I&hich is avaia#e &ith yo"r $P8 to #orro& sec"rities !rom the intermediary.
I! the intermediary accepts yo"r reA"est, the sec"rities &i #e moved !rom the
intermediaryLs acco"nt to yo"r acco"nt. I! yo" &ish to ret"rn the sec"rities #orro&ed
#y yo", yo" can make a reA"est vide a standard !ormat avaia#e &ith yo"r $P.
Tra)s#issio) Of Securities: 'ransmission o! sec"rities d"e to death, "nacy,
#ankr"ptcy, and insovency or #y any other a&!" means other than trans!er is aso
possi#e in the depository system. In the case o! transmission, the caimant &i have
&A&ASA& 'ATI(
=:
A Study of Customer Satisfaction towards Depository Participants
to !i in a transmission reA"est !orm, I&hich is avaia#e &ith the $P8 s"pported #y
vaid doc"ments. 'he $P, a!ter ens"ring that the appication is gen"ine, &i trans!er
sec"rities to the acco"nt o! the caimant. For this, the caimant m"st have a depository
acco"nt. 'he ma(or advantage in transmission o! demateriai)ed hodings is that the
transmission !ormaities !or a sec"rities hed &ith a $P can #e competed in one go,
"nike in the case o! share certi!icates, &here the caimant &i have to interact &ith
each iss"ing company or its 01' Agent.
In case &here the deceased &as one o! the (oint hoders in the Cient acco"nt,
the s"rviving cientIs8 sha #e the personIs8 recogni)ed #y depository as having tite
to the sec"rities hed in that (oint Cient acco"nt. In case &here the deceased &as a
soe hoder o! the Cient acco"nt, his ega heirIs8 or the ega representativeIs8 &i #e
the personIs8 recogni)ed #y depository as having tite to the sec"rities hed in that soe
Cient acco"nt.
Security: Nationa Sec"rity and $epository Limited caims to have "ndertaken
s"!!icient sec"rity meas"res. 'hese meas"res are-
• A $P can #e operationa ony a!ter registration #y Se#i, &hich is #ased
on the recommendation !rom NS$L and Se#i/s o&n independent
eva"ation. Se#i has prescri#ed criteria !or #ecoming a $P in the
reg"ations.
• $Ps are ao&ed to e!!ect any de#it and credit to an acco"nt ony on the
#asis o! vaid instr"ction !rom the cient.
• Dvery day, there is a system driven mandatory reconciiation #et&een
the $P and NS$L.
&A&ASA& 'ATI(
=C
A Study of Customer Satisfaction towards Depository Participants
• 'here are periodic inspections into the activities o! #oth $P and 01'
agent #y NS$L. 'his aso inc"des records #ased on &hich the de#it?
credit are e!!ected.
• 'he data interchange #et&een NS$L and its #"siness partners is
protected #y standard protection meas"res s"ch as encryption. 'his is a
SDBI reA"irement.
• 'here are no direct comm"nication inks #et&een t&o #"siness partners
and a comm"nications #et&een t&o #"siness partners are ro"ted
thro"gh NS$L
• A investors have a right to receive their statement o! acco"nts
periodicay !rom the $P.
• Dvery month NS$L !or&ards statement o! acco"nts to a random sampe
o! investors as a co"nter check.
• In the depository, the depository hods the investor hodings on tr"st.
'here!ore, i! the $P goes #ankr"pt the creditors o! the $P &i have no
access to the hodings in the name o! the cients o! the $P. 'hese
investors can then either demateriai)e their hodings or trans!er them to
a di!!erent acco"nt hed &ith another $P.
• Investor grievance- A grievances o! the investors are to #e resoved #y
the concerned $P. I! they !ai to do so the investor has the right to
approach NS$L.
&A&ASA& 'ATI(
>4
A Study of Customer Satisfaction towards Depository Participants
• Ins"rance Cover- NS$L has taken a comprehensive ins"rance poicy to
protect the interest o! the investors in cases o! !ai"re o! the $P to
resove a gen"ine oss. 'he detais o! the poicy is as "nder-
• Kpper imit per caim- 0s744mn.
• N"m#er o! caims ao&ed- "nimited
• %inim"m va"e o! the caim- 0s3=4, 444
• 'o cover caims va"ed ess than 0s3=4, 444 NS$L has an investor
protection !"nd in pace.
Besides a these sa!ety meas"res e!!orts have #een done to make this eectronic
system !ooproo!.
"EMAT S-ARES: ARE T-EY <BBC SA*E
2hen yo" #"y physica shares !rom the stock market, yo" co"d never #e
certain o! the vaidity o! the tite o! shares. 'here &ere many reasonsF the seersL
signat"re did not match, or the certi!icates &ere !ake, !orged or stoen, and so on.
$emat shares are s"pposed to o#viate these pro#ems. B"ying shares in the
demat !orm a&ays g"arantees yo" a good tite as soon as the settement is over. 'he
#iggest attraction o! trading in demat shares is that the shares yo" #"y come &ith a
cean tite and immediatey a!ter the settement on the reevant stock e,change.
0"e 344 o! market reg"ator SDBI determines &hether the shares deivered in
a settement, are good or not. Knder r"e 344, the shares that have #een trans!erred the
company can sti &ithdra& any n"m#er o! times, i! a trans!er is !o"nd to #e invaid
!or any reason.
&A&ASA& 'ATI(
>3
A Study of Customer Satisfaction towards Depository Participants
S"ppose a ses physica shares to B and B gets them demateriai)ed. Later B
ses the shares in the stock e,change and C #"ys them. %ean&hie A discovers that
his share certi!icates &ere stoen and !ra"d"enty sod #y someone ese. @e gets a
co"rt order restraining the company !rom !"rther trans!erring the shares and attaching
them Ic"rrenty in possession o! C8. 'his is kno&n as Lstop trans!erL. So C &ho has
#o"ght demateriai)ed shares is no& str"ck &ith the shares. @e cannot se these
shares since they &o"d #e !ro)en in his acco"nt
In demat shares, preFdemat pro#ems a#o"t the vaidity o! a share do not e!!ect
the interest o! the #"yers a!ter demateriai)ation. Shares go thro"gh a veri!ication
process at the registrarsL #e!ore they are demateriai)ed.
'here!ore the responsi#iity ies &ith the registrar. 'he registrar m"st !ind a
remedy i! the origina trans!er o! shares, #e!ore their demateriai)ation comers "nder
do"#t. B"t there is a catch. 'he company and its registrars are not responsi#e i! the
reasons !or origina trans!er #eing invaid &ere not avaia#e at the time o!
demateriai)ation. %atters have to #e deat &ith on a caseFtoFcase #asis. 2hich means
that even demat #"yer may !ind that his shares have #een !ro)en in his demat acco"nt.
'his kind o! case has to #e contested in co"rt #y the parties invoved.
'his iss"e is not directy addressed in 'he $epositories Act, 3CC>. Se#i/s
reg"ations on depositories and depository participants aso do not mention the iss"e.
%atters get more compe, i! an investor has traded !"rther in shares o! the
same company in his demat acco"nt. $emat shares are !"ngi#e and don/t have
distinctive n"m#ers. It is not easy to track the sae or trade o! shares a!ter they are
demateriai)ed.
&A&ASA& 'ATI(
>7
A Study of Customer Satisfaction towards Depository Participants
In a rare event o! yo"r $P going #ankr"pt or cosing the operations, the
interests o! the investors &i #e !"y protected. In s"ch a sit"ation, the investors &i
#e given an option o! either trans!erring the sec"rities to a ne& $P or they may
remateriaise the sec"rities
&A&ASA& 'ATI(
>9
A Study of Customer Satisfaction towards Depository Participants
A+A(YSIS O* CUSTOMER SATIS*ACTIO+
Sa#$e si%e seected: <BB
Tota +u#ber of custo#er avaiabe for survey: <BB

0
50
100
1
sample for survey
Series1
'he sampe si)e seected !or the s"rvey &as 344.I@"ndred8 c"stomers o!
KA056 CONSLK'AN' S'OCK B0OKINE &ere avaia#e !or s"rvey. So opinion
&as taken to kno& the c"stomer satis!actions to&ards demat acco"nt.
&A&ASA& 'ATI(
>;
A Study of Customer Satisfaction towards Depository Participants
<2Res$o)de)t ca#e to 8)o0 the about .KARVY FINANCIAL CONSULTANT .
Tota )o2 Of sa#$e ta8e): <BB
1 2 3 4 5
Friens
Ne!s "apers#
$usiness Ma%a&ines Online A%en'#Finan(ial O')ers
47 18 10 14 11
47%
18%
10%
14%
11%
Friends
News
Papers/BusinessMagazin
es
Onine
!gen"/Finan#ia
O"$ers
Source: Survey "ata

'he a#ove ta#e and chart sho&s the respondents kno&
5ARVY *I+A+CIA( CO+SU(TA+T -F
• ;B.44< o! respondent kno& KA056 FINANCIAL CONSKL'AN'
thro"gh their *rie)ds2
• 3:< o! o! respondent kno& KA056 FINANCIAL CONSKL'AN'
thro"gh +e0s 'a$ers / Ma!a%i)e2
• 3;< o! respondent kno& KA056 FINANCIAL CONSKL'AN'
thro"gh A!e)ts / *i)a)cia I)stitutio)s2
• 33< o! respondent kno& KA056 FINANCIAL CONSKL'AN'
thro"gh Others2
&A&ASA& 'ATI(
>=
A Study of Customer Satisfaction towards Depository Participants
7.'hey are interested to visit .KARVY FINANCIAL CONSULTANT .
%es
&4%
N'
(%
%es
N'
Source: Survey "ata
'he a#ove ta#e and chart sho&s that C;< o! respondents are interested
to visit 5ARVY *I+A+CIA( CO+SU(TA+T 1 ony >< o! 0espondent are
not interested to visit the same .
&A&ASA& 'ATI(
Yes No
&4 (
>>
A Study of Customer Satisfaction towards Depository Participants
9. 'hey 0espondents are interested to visit .KARVY FINANCIAL CONSULTANT
. #eca"se o! vis"a peas"re, hospitaity 1 D,ceent E"ideine etc
47
45
8
0 0 0
10
20
30
40
50
!gree )us"
agree
N'
Opini'n
)us"
*isagree
*isagree
Series1
Source: Survey "ata
'he a#ove ta#e and chart sho&s that ;B< o! 0espondents are interested
to visit .KARVY FINANCIAL CONSULTANT . , ;=< o! 0espondent ("st
agree 1 :< o! 0espondent are not interest to give there opinion .
&A&ASA& 'ATI(
A%ree *us' a%ree No Opinion *us' +isa%ree +isa%ree
47 45 8 0 0
>B
A Study of Customer Satisfaction towards Depository Participants
;. 'hey 0espondents are de!initey "se service .KARVY FINANCIAL CONSULTANT
.Beca"se attit"de o! empoyee.
A%ree *us' a%ree No Opinion *us' +isa%ree +isa%ree
(& 24 7 0 0
Source: Survey "ata
'he a#ove ta#e and chart sho&s that >C< o! 0espondents are interested to
visit *KARVY FINANCIAL CONSULTANT .Beca"se o! there attit"de, and,
7;< o! 0espondent ("st agree ony B< o! 0espondent are constant.
&A&ASA& 'ATI(
>:
(&
24
7
0 0 0
10
20
30
40
50
(0
70
80
!gree )us" agree N'
Opini'n
)us"
*isagree
*isagree
!gree
)us" agree
N' Opini'n
)us" *isagree
*isagree
A Study of Customer Satisfaction towards Depository Participants
=. 'hey 0espondents are de!initey "sing service o! .5ARVY FINACIAL CONSULTANT
#eca"se &hat they #ene!it gets !rom them.
50
41
8
1
0
0
10
20
30
40
50
(0
!gree )us" agree N' Opini'n )us"
*isagree
*isagree
!gree
)us" agree
N' Opini'n
)us" *isagree
*isagree
Source: Survey "ata
'he a#ove ta#e and chart sho&s that =4< o! 0espondents are interested
to visit *KARVY FINANCIAL CONSULTANT #eca"se they get that m"ch o!
#ene!its !rom them , and, ;3< o! 0espondent ("st agree ony :< o!
0espondent constant..3< o! 0espondent ("st disagrees.
&A&ASA& 'ATI(
A%ree *us' a%ree No Opinion *us' +isa%ree +isa%ree
50 41 8 1 0
>C
A Study of Customer Satisfaction towards Depository Participants
> 'hey 0espondents are interested .KARVY FINANCIAL
CONSULTANT *
#eca"se they introd"ce ne& scheme and &e get #ene!it 2
%es
8(%
N'
14%
%es
N'
Source: Survey "ata
'he a#ove ta#e and chart sho&s that :>< o! respondents are interested
to "se service o! .5ARVY *I+A+CIA( CO+SU(TA+T1 #eca"se
they introd"ce ne& scheme and &e get #ene!it 1 ony 3;< o!
0espondent are not interested to visit the same.

&A&ASA& 'ATI(
Yes No
8( 14
B4
A Study of Customer Satisfaction towards Depository Participants
B 'hey 0espondents "se .KARVY FINANCIAL CONSULTANT
.#eca"se Karvy Peope kno& c"stomer va"e and money va"e.
A%ree *us' a%ree No Opinion *us' +isa%ree +isa%ree
54 3& ( 1 0
54
3&
(
1 0 0
10
20
30
40
50
(0
!gree )us" agree N' Opini'n )us"
*isagree
*isagree
!gree )us" agree N' Opini'n )us" *isagree *isagree
Source: Survey "ata

'he a#ove ta#e and chart sho&s that =;< o! respondents are satis!ied
&ith the service o! .5ARVY *I+A+CIA( CO+SU(TA+T1 #eca"se the
Karvy Peope kno& c"stomer va"e and money va"e. 9C< 0espondents ("st
agree .>< o! paroe say no opinion and ony 3< o! 0espondent say ("st
disagree.

&A&ASA& 'ATI(
B3
A Study of Customer Satisfaction towards Depository Participants
:. 'hey 0espondents speci!y *KARVY FINANCIAL CONSULTANT .better
the) other "$2
A%ree *us' a%ree No Opinion *us' +isa%ree +isa%ree
41 37 20 1 1
41
37
20
1 1
0
5
10
15
20
25
30
35
40
45
!gree )us" agree N'
Opini'n
)us"
*isagree
*isagree
!gree
)us" agree
N' Opini'n
)us" *isagree
*isagree
Source: Survey "ata
'he a#ove chart sho&s that ;3< o! respondents are interested in
*KA056 FINANCIAL CONSKL'AN'+ #eca"se o! their #est service
&hich is #etter then other $P services. ;3< o! 0espondents agree.93<
o! 0espondents ("st agreed. 74 < o! 0espondent has not given their
opinion. Ony 3< o! 0espondent disa!rees2
&A&ASA& 'ATI(
B7
A Study of Customer Satisfaction towards Depository Participants
C. "e#at
E,'remely
sa'isfie
Sa'isfie Nei')er sa'isfie# nor
unsa'isfie
Unsa'isfie E,'remely
unsa'isfie
38 4( 1( 0 0
+,"re-e.
sa"is/ied
Sa"is/ ied Nei"$er
sa"is/ied/n'r
unsa"is/ ied
unsa"is/ ied +,"re-e.
unsa"is/ ied
S1
38
4(
1(
0 0
So"rce- S"rvey $ata
'he a#ove ta#e and chart sho&s de#at services o!!ered #y KA056
FINANCIAL CONSKL'AN'S are satis!ied. 9:< o! the 0espondents are
e,"re-e. sa"is/ied0 4(% 1us" Sa"is/ied0 1(%'/ '/ 2esp'nden"s nei"$er sa"is/ied / 3nsa"is/ied..
&A&ASA& 'ATI(
B9
A Study of Customer Satisfaction towards Depository Participants
b2 Sette#e)t ;Sei)!A &uyi)!:
E,'remely
Sa'isfie Sa'isfie
Nei')er sa'isfie#nor
Unsa'isfie Unsa'isfie
E,'remely
unsa'isfie
25 4& 2( 0 0
25
4&
2(
0 0 0
10
20
30
40
50
(0
+,"re-e. sa"is/ ied Sa"is/ ied Nei"$er
sa"is/ ied/n'r
unsa"is/ ied
unsa"is/ ied +,"re-e.
unsa"is/ ied
+,"re-e. sa"is/ied
Sa"is/ied
Nei"$er sa"is/ied/n'r
unsa"is/ied
unsa"is/ied
+,"re-e. unsa"is/ied
Source: Survey "ata
'he a#ove ta#e and chart sho&s that 7=< o! the respondents are
e,tremey satis!ied #y the service o! Karvy, ;C< o! respondents are satis!ied
and 7>< o! the respondents are having ne"tra opinion a#o"t the service
provided #y the Instit"tion.
&A&ASA& 'ATI(
B;
A Study of Customer Satisfaction towards Depository Participants
c2 *ree%i)!A"efree%i)!
E,'remely
Sa'isfie Sa'isfie
Nei')er sa'isfie#nor
Unsa'isfie Unsa'isfie
E,'remely
unsa'isfie
( 4& 45 0 0
(
4&
45
0
0
0 20 40 (0
1
+,"re-e. unsa"is/ied
unsa"is/ied
Nei"$er sa"is/ied/n'r
unsa"is/ied
Sa"is/ied
+,"re-e. sa"is/ied
Source: Survey "ata
'he a#ove ta#e and chart sho&s the services o! !ree)ing? de!ree)ing
;C< o! the respondent are a&are and satis!ied &ith these services. And ;=< o!
respondent are having ne"tra opinion a#o"t !ree)ing? de!ree)ing, >< o!
respondent are dissatis!ied &ith this service #eca"se they are don/t have
"nderstood the core concept.
&A&ASA& 'ATI(
B=
A Study of Customer Satisfaction towards Depository Participants
d2 (oa) a!ai)st Shares
E,'remely
sa'isfie
Sa'isfie Nei')er
sa'isfie#nor
unsa'isfie
Unsa'isfie E,'remely
unsa'isfie
-- .. /0 1 1
22%
33%
45%
0% 0%
+,"re-e. sa"is/ied
Sa"is/ied
Nei"$er sa"is/ied/n'r
unsa"is/ied
unsa"is/ied
+,"re-e. unsa"is/ied
Source: Survey "ata
'he a#ove ta#e and chart sho&s most o! the respondent are having
ne"tra opinion i.e., ;=< and 99< have satis!ied this service. 77< o!
respondent are e,tremey satis!ied.
&A&ASA& 'ATI(
B>
A Study of Customer Satisfaction towards Depository Participants
e2 Share Tradi)!
E,'remely
Sa'isfie Sa'isfie
Nei')er sa'isfie#nor
Unsa'isfie Unsa'isfie
E,'remely
unsa'isfie
/2 /3 / 1 1
/2
/3
/
1 1 0
10
20
30
40
50
(0
+
,
"
r
e
-
e

.
s
a
"
i
s
/
i
e
d
S
a
"
i
s
/
i
e
d
N
e
i
"
$
e
r
s
a
"
i
s
/
i
e
d
/
n
'
r
u
n
s
a
"
i
s
/
i
e
d

u
n
s
a
"
i
s
/
i
e
d
+
,
"
r
e
-
e

.
u
n
s
a
"
i
s
/
i
e
d
Source: Survey "ata
'he a#ove ta#e and chart sho&s the service o! share trading, ;C< o! the
respondent have D,tremey Satis!ied &ith this service, and ;B< o! respondent
are satis!iedN In a &e can say that C>< respondent have satis!ied &ith the
services o! Share trading.
&A&ASA& 'ATI(
BB
A Study of Customer Satisfaction towards Depository Participants
*2 'eriodic state#e)ts
E,'remely
Sa'isfie Sa'isfie
Nei')er sa'isfie#
unsa'isfie Unsa'isfie
E,'remely
unsa'isfie
48 44 8 0 0
48
44
8
0 0
0
10
20
30
40
50
(0
+,"re-e.
sa"is/ied
Sa"is/ied Nei"$er
sa"is/ied/n'r
unsa"is/ied
unsa"is/ied +,"re-e.
unsa"is/ied
+,"re-e. sa"is/ied Sa"is/ied
Nei"$er sa"is/ied/n'r unsa"is/ied unsa"is/ied
+,"re-e. unsa"is/ied
Source: Survey "ata
'he a#ove ta#e and chart sho&s the services given #y Karvy a#o"t
Periodic statements ;:< o! the respondent are e,"re-e. sa"is/ied 1 ;;< o! the
respondent is satis!ied .In a C7<Iappr8 o! respondent have satis!ied &ith this
service.
&A&ASA& 'ATI(
B:
A Study of Customer Satisfaction towards Depository Participants
!2 Tee$ho)e 4uires
E,'remely
sa'isfie Sa'isfie
Nei')er sa'isfie#nor
unsa'isfie Unsa'isfie
E,'remely
unsa'isfie
40 48 12 0 0
40
48
12
0 0
0
10
20
30
40
50
(0
+,"re-e.
sa"is/ied
Sa"is/ied Nei"$er
sa"is/ied/n'r
unsa"is/ied
unsa"is/ied +,"re-e.
unsa"is/ied
+,"re-e. sa"is/ied Sa"is/ied
Nei"$er sa"is/ied/n'r unsa"is/ied unsa"is/ied
+,"re-e. unsa"is/ied
Source: Survey "ata
'he a#ove ta#e and chart sho&s the ;:< o! the respondent are satis!ied
&ith the 'eephonic serviceN ;4< o! the respondent are mosty satis!ied 1 in a ::<
o! the 0espondent satis!iedN 37< having ne"tra opinion.
&A&ASA& 'ATI(
BC
A Study of Customer Satisfaction towards Depository Participants
h. Co6o$eratio) by Staff

E,'remely
sa'isfie
Sa'isfie Nei')er
sa'isfie#nor
unsa'isfie
unsa'isfie E,'remely
unsa'isfie
(0 35 5 0 0
(0
35
5
0 0
0
10
20
30
40
50
(0
70
+,"re-e.
sa"is/ied
Sa"is/ied Nei"$er
sa"is/ied/n'r
unsa"is/ied
unsa"is/ied +,"re-e.
unsa"is/ied
+,"re-e. sa"is/ied Sa"is/ied
Nei"$er sa"is/ied/n'r unsa"is/ied unsa"is/ied
+,"re-e. unsa"is/ied
Source: Survey "ata
'he a#ove ta#e and chart sho&s overa >4< o! the respondent are e,"re-e.
sa"is/ied wi"$ "$e #'4'pera"i'n 5. s"a//N 9=< o! the respondents are satis!ied 1 =< o! the
respondents are having ne"tra opinion.
&A&ASA& 'ATI(
:4
A Study of Customer Satisfaction towards Depository Participants
I. Bis acceptance.
E,'remely
sa'isfie
Sa'isfie
Nei')er
sa'isfie#nor
unsa'isfie
unsa'isfie
E,'remely
unsa'isfie
50 32 1( 1 1
50
32
1(
1 1
0
10
20
30
40
50
(0
+,"re-e.
sa"is/ied
Sa"is/ied Nei"$er
sa"is/ied/n'r
unsa"is/ied
unsa"is/ied +,"re-e.
unsa"is/ied
+,"re-e. sa"is/ied Sa"is/ied Nei"$er sa"is/ied/n'r unsa"is/ied
unsa"is/ied +,"re-e. unsa"is/ied
Source: Survey "ata
'he a#ove ta#e and chart sho&s overa =4< o! the respondent are
e,tremey satis!iedN 97< o! the respondents are satis!ied 13>< o! the respondents are
having ne"tra opinion.
&A&ASA& 'ATI(
:3
A Study of Customer Satisfaction towards Depository Participants
34. "issatisfied 0ith servicesA sche#e
A
FreA"enty reminders are given to karvy cons"tant td., !or "pdate
the in!ormation
@ @C
& Irreg"ar receipt o! @oding?'ransaction statement < <C
C
Improper attention given to the enA"ires
> >C
" Improper !ormat o! @oding?'ransaction statement < <C
E
Biing pro#ems
< <C
* InadeA"ate in!ormation = =C
a 4 ( e f
4 1 5 1 1 2
4
1
5
1 1
2
0
1
2
3
4
5
(
1
a
5
#
d
e
/
So"rce- S"rvey $ata
'he a#ove ta#e and chart sho&s that =< o! the respondents are
"nsatis!ied &ith Improper attention given to the enA"ires . 1 ;< o! the
respondent are "nsatis!ied &ith !reA"enty reminders are given to karvy
cons"tant td., !or "pdate the in!ormation given #y $P .So proper
comm"nication &ith the 0espondent 1 "pdate in!ormation is reA"ired.
&A&ASA& 'ATI(
:7
A Study of Customer Satisfaction towards Depository Participants
33. Tariff Structure
13
25
(2
0 0
0
10
20
30
40
50
(0
70
6er.$ig$ 7ig$ res'na5e 'w 8er.'w
6er.$ig$
7ig$
res'na5e
'w
8er.'w
Source: Survey "ata
'he a#ove ta#e and chart sho&s that >7< o! the respondents think the
tari!! str"ct"re o! the KA056 CONSKL'AN' is very reasona#e.7=< o! the
respondent thinks the tari!! str"ct"re is high. 39< o! the respondent !ees the
tari!! str"ct"re is very high.
&A&ASA& 'ATI(
Very )i%) 5i%) Reasona4le Lo! Very lo!
13 25 (2 0 0
:9
A Study of Customer Satisfaction towards Depository Participants
37. Rate of Satisfactio) for "' services
16 -16 /16 716 816 9116
0 0 11 31 53 5
13
25
(2
0 0
0
10
20
30
40
50
(0
70
6er.$ig$ 7ig$ res'na5e 'w 8er.'w
6er.$ig$
7ig$
res'na5e
'w
8er.'w
Source: Survey "ata
'he a#ove ta#e and chart sho&s that =9< o! the respondent have
satis!ied :4< o! service given #y $PN 93< o! the respondent have satis!ied >4< o!
service and 33< o! the respondent have satis!ied ;4< o! the service. Ony =< o!
respondent have satis!ied 344 o! the service.
&A&ASA& 'ATI(
:;
A Study of Customer Satisfaction towards Depository Participants
39. 'refere)ce of o0) "' over other "'
:uali'y servi(e Ra'e C)ar%e
No')in% in
par'i(ular Safe'y Rea()
35 14 10 40 1
35
14
40
1
10
0
5
10
15
20
25
30
35
40
45
9ui".
ser8i#e
2a"e
:$arged
N'"$ing in
pari#uar
Sa/e". 2ea#$
9ui". ser8i#e
2a"e :$arged
N'"$ing in pari#uar
Sa/e".
2ea#$
Source: Survey "ata
'he a#ove ta#e and chart sho&s that ;4< o! the respondents pre!erred this
$P #eca"se o! Sa!ety 1 9=< o! the respondents pre!erred this $P #eca"se o! the
A"aity service. In a B=< pre!er KA056 CONSKL'AN' #eca"se o! sa!ety1
A"aity.
&A&ASA& 'ATI(
:=
A Study of Customer Satisfaction towards Depository Participants
Reco##e)datio)
? C"stomer service sho"d #e improved and more coFoperation aso provide.
? 'ime taken !or trans!er o! script !rom trading acco"nt into demat acco"nt
sho"d #e red"ced.
? Statement copy sho"d made more cear and !ig"re sho"d #e mention in
respective co"mn.
? %ore space provide in trading pace.
? 'he commission charged sho"d #e red"ced.
? 'he o!!ice sho"d #e sit"ated near #"s stand or s"#has road.
&A&ASA& 'ATI(
:>
A Study of Customer Satisfaction towards Depository Participants
CO+C(USIO+
Since it is service #ased ind"stry, the c"stomer pays vita roe, so in
order to satis!y the c"stomer appoint more no o! &e A"ai!ied agents &ho can
comm"nicate respondents to improve the services, hence give more
advertisement in Ne&s paper, oca '5 channe, to over come the over
cro&ding and non avaia#iity o! teephone inks proper meas"re sho"d #e
taken.
&A&ASA& 'ATI(
:B
A Study of Customer Satisfaction towards Depository Participants
4UESTIO++AIRE
$ear Sir? %adam
NA%D - SSSSSSSSSSSSSSSSSSSSSSSSSSSS
A$$0DSS - SSSSSSSSSSSSSSSSSSSSSSSSSSSS
DDDDDDDDDDDDDDDDDDDDDDDDDD
OCCKPA'ION- DDDDDDDDDDDDDDDDDDDDDDDDDD Phone No- SSSSSSSSSS
3. I came to kno& a#o"t 5ARVY *I+A+CIA( CO+SU(TA+TS fro#
< = ?
@
>
Friends Ne&s
Papers
?B"siness
%aga)ine
Onine Agent?Financia
Agency
Others

7. I am interested in visiting 5ARVY *I+A+CIA( CO+SU(TA+TS
#eca"se they provide A"ick and timey service.
<: 6es =: No
9. I have #een "sing service o! 5ARVY *I+A+CIA( CO+SU(TA+TS
#eca"se o! the o& cost, vis"a peas"re, @ospitaity, Comm"nication,
and ne& concept o! !inancia cons"tancy
< = ? @ >
Agree O"st Agree No opinion
O"st disagree
$isagree
;. In !"t"re I &i #e de!initey "sing the service o! 5ARVY *I+A+CIA(
CO+SU(TA+TS #eca"se o! the attit"de o! the empoyees to&ards c"stomers.
< = ?
@
>
Agree O"st Agree No opinion O"st disagree $isagree
&A&ASA& 'ATI(
::
A Study of Customer Satisfaction towards Depository Participants
=. I &i de!initey "se service o! 5ARVY *I+A+CIA( CO+SU(TA+TS
#eca"se o! the #ene!it I get !rom 5ARVY *I+A+CIA( CO+SU(TA+TS
< = ? @ >
Agree O"st Agree No opinion
O"st disagree
$isagree
>. I am interested in 5ARVY *I+A+CIA( CONSKL'AN'S #eca"se o!
the ne& scheme introd"ced !reA"enty and #ene!it !rom s"ch scheme
<: 6es =: No
B. I "se 5ARVY *I+A+CIA( CO+SU(TA+TS #eca"se they kno&
c"stomer
va"e as &e as money va"e o! c"stomers
< = ?
@
>
Agree O"st Agree No opinion O"st disagree $isagree
:. 5ARVY *I+A+CIA( CO+SU(TA+TS service o! dp are #etter then
other dp services.
< = ?
@
>
Agree O"st Agree No opinion O"st disagree $isagree
&A&ASA& 'ATI(
:C
A Study of Customer Satisfaction towards Depository Participants
C. D,press yo"r satis!action eve a#o"t the !oo&ing scheme?service pease tick.
Schemes?services
D,tremey
Satis!ied
Satis!ied Neither
satis!ied?nor
"nsatis!ied
"nsatis!ie
d
D,tremey
Knsatis!ied
a. $emat
#. Settement
ISeing?p"rchasing8
c. Free)ing?
de!ree)ing O!
an acco"nt
d. Loan against
shares
e. Share trading
! Periodic
statements
g. 'eephone
A"eries
h. CoFoperation #y
sta!!
i. Bis Acceptance
34. I! yo" have !aced any &hen deaing thro"gh yo"r $P or yo" are
"nsatis!ied &ith the a#ove mentioned services?schemes.
FreA"enty reminders are given to 5ARVY *I+I+CIA( CONSKL'AN'S., !or
"pdate the in!ormation
Irreg"ar receipt o! @oding?'ransaction statement
Improper attention given to the enA"ires
Improper !ormat o! @oding?'ransaction statement
Biing pro#ems
InadeA"ate in!ormation
Other speci!ySSSSSSSSSSSSSSSSSSS
33. Pease tick the !oo&ing-
'ari!!
Str"ct"re
3 7 9 ; =
5ery @igh @igh 0easona#e Lo& 5ery Lo&
&A&ASA& 'ATI(
C4
A Study of Customer Satisfaction towards Depository Participants
37. @o& do yo" rate the services o! yo"r $P
4< 74< ;4< >4< :4< 344<
39. @o& do yo" ("sti!y yo"r pre!erence !or yo"r 5ARVY *I+A+CIA(
CO+SU(TA+TS $P over other $P/sP
3 7 9 ; =
."aity
Service
0ates
Charged
Nothing in
partic"ar
Sa!ety 0each
3;.
A8 6o"r age I6rs8
T7= 7>F9= 9>F;= ;>F>4 U >4
B8 Income IPa8
T>4444 >4444F3.7 L 3. 7 LH 7.; L
7.; LH 9.>L 9.> L H >.4.L >.4 L H37.4 L

C8 Dd"cation
Kp to V
th
Erad"ate Post Erad"ate. Ph$. Others.
$8 6eary o! investment.
3LF= L =LF34L U34L
3=. S"ggestion SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS
SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS
Tha)8 you for your co6o$eratio)
&A&ASA& 'ATI(
C3
A Study of Customer Satisfaction towards Depository Participants
CO"E S-EET O* CUSTOMER RES'O+SE
.. C. D,tremey Satis!ied- 3N Satis!ied- 7NNeither Satis!ied?Nor $issatis!ied- 9N
Knssatis!ied-;N D,tremey $issatis!ied- =
.33. 5ery @igh- 3N@igh- 7N0easona#e- 9NLo&- ;N5ery Lo&-
.37. 4<- 3N 74<- 7N ;4<- 9N >4<- ;N:4<- =N344<-
.:39. ."aity Service- 3N0ates charged- 7NNothing in partic"ar- 9N Sa!ety- ;N0each-
=

"ATA CO"E 6 S-EET
Sl
No
9 - . / 0 7 3 8 2a 24 2( 2 2e 2f 2% 2) 2i 91a 914 91( 91 91e 91f 99 9- 9.a 9.4 9.( 9. 9.e
3 3 3 3 3 3 3 3 7 7 7 9 9 3 7 3 3 7 7 9 = 9

7 3 3 3 3 3 7 7 7 3 7 7 7 7 7 7 3 7 9 ; 3

9 3 3 3 3 3 3 7 3 7 7 7 7 7 7 9 7 9 9 7 ; ;

; 3 3 7 7 7 7 7 7 7 7 9 9 7 7 7 7 7 7 9 9

= 3 3 3 3 3 3 3 3 3 7 7 9 3 3 3 7 7 9 = 3

> 3 3 7 3 3 3 7 3 3 3 7 3 3 7 3 3 7 7 = ;

B 3 3 3 3 3 3 3 3 7 7 7 7 3 3 3 3 3 9 = 3

: ; 3 3 3 3 3 3 3 7 3 9 9 3 3 3 3 3 9 > ;

C 3 3 3 7 7 3 7 9 7 7 9 9 7 3 3 3 3 9 = 3

34 3 3 7 9 3 7 9 7 7 9 7 9 7 9 7 7 7 9 ; 7 ; 9

33 3 3 3 3 3 3 3 3 3 3 7 7 3 3 3 3 3 9 = 7

37 7 3 7 3 7 3 9 7 7 7 7 7 7 7 7 7 7 9 = 3

39 7 3 7 7 7 3 7 7 7 3 3 9 3 3 3 9 3 3 9 ; 9

3; 3 3 3 3 3 3 3 3 3 3 7 7 3 3 3 3 3 3 = 3

3= 3 3 3 3 3 3 3 3 3 7 7 7 7 7 7 3 7 9 = ;

3> 3 3 3 3 3 3 3 3 7 7 7 7 3 3 3 3 7 9 ; 3

3B 7 3 3 3 3 3 3 9 3 7 9 9 7 7 3 3 3 9 = 3

3: 3 3 7 3 7 3 3 7 7 3 7 3 3 3 3 3 3 9 = ;

3C 3 3 3 3 3 3 7 7 3 3 7 7 3 3 3 7 3 9 = 3

74 3 3 3 3 3 3 3 3 3 3 7 7 3 3 3 3 3 9 = 3

73 3 3 7 7 9 3 7 3 3 7 7 7 3 3 7 3 3 7 = ;

77 ; 3 7 3 3 3 7 9 3 7 9 9 3 7 3 3 9 7 = ;

79 3 3 3 3 3 3 7 3 3 3 7 9 3 3 3 3 3 9 = ;

7; 3 3 3 3 3 3 7 9 3 3 9 9 7 3 3 7 3 9 = ;

7= 3 3 3 3 3 3 3 3 9 7 7 9 3 3 7 3 7 9 = 3

7> ; 7 9 7 9 7 7 7 9 7 9 9 7 7 7 7 7 7 ; 9

7B 3 3 3 3 3 3 7 3 3 3 7 9 7 3 7 3 3 9 ; 3

7: 3 3 7 7 9 3 3 3 7 7 7 9 7 7 3 3 3 9 = 3

&A&ASA& 'ATI(
C7
A Study of Customer Satisfaction towards Depository Participants
7C 3 3 7 3 9 7 3 7 3 7 9 9 3 3 3 3 3 3 = ;

94 7 3 3 3 3 3 3 3 7 3 9 9 3 7 3 3 3 9 = 3

93 7 3 3 3 3 3 3 3 7 7 7 9 7 7 7 7 7 9 = ;

97 3 3 7 3 3 3 3 3 7 7 7 9 7 7 7 7 7 3 9 9 3

99 3 3 3 3 3 3 7 7 7 7 7 9 7 7 3 3 7 9 ; 3

9; 7 3 7 7 3 7 7 7 7 7 7 9 7 7 7 7 7 9 = 3

9= 3 3 3 3 3 3 3 3 7 7 7 9 3 3 7 7 7 3 9 = ;

9> = 3 7 3 7 7 7 = 7 7 7 9 7 9 7 7 = 3 9 > 7 ; 9

9B 3 3 3 7 7 3 7 7 7 9 9 7 7 3 7 3 3 9 9 3

9: 3 3 3 3 3 3 3 7 7 3 7 3 3 3 3 3 3 = 7 = ;

9C 3 7 9 9 ; 7 ; ; 7 7 9 9 7 7 9 7 ; 9 > 9 9 9

;4 3 3 3 3 3 7 7 7 7 7 9 9 7 7 7 7 7 7 ; ;

;3 3 3 7 3 7 7 3 9 7 7 9 9 7 7 3 3 7 9 = 3

;7 7 3 3 3 7 3 3 3 3 7 7 9 3 3 7 3 3 7 = ;

;9 ; 3 7 3 3 3 3 7 3 7 9 9 3 3 3 3 3 9 = 3

;; 3 3 9 7 3 7 7 9 7 7 9 9 7 7 3 3 7 9 3 9 7

;= 3 3 3 3 7 3 3 7 7 3 7 9 3 3 7 3 7 9 ; 7

;> 7 3 9 9 7 3 3 3 3 3 7 7 3 3 3 3 3 9 = 3

;B 3 7 7 3 7 3 3 3 9 7 3 7 3 7 9 3 3 9 ; 3

;: 7 3 7 7 3 3 9 7 7 9 9 3 7 7 9 7 9 7 ; 7

;C 3 3 3 3 7 3 3 3 9 7 7 9 3 7 9 3 3 9 9 9

=4 = 3 7 3 3 3 3 7 3 9 3 7 7 9 7 3 3 7 = 3

=3 3 3 7 7 7 3 3 3 9 3 9 9 3 9 7 7 3 9 ; 7

=7 7 3 3 3 3 3 9 7 7 9 7 3 9 7 9 3 3 9 = 9

=9 3 3 7 3 7 3 3 3 3 7 3 7 3 9 7 3 3 7 ; 7

=; 3 7 7 7 3 3 9 9 9 3 9 7 7 3 9 3 3 9 9 3

== 9 3 3 3 7 3 3 3 7 9 7 9 3 7 7 3 3 7 = 9

=> 3 3 7 7 3 3 3 7 9 7 7 7 7 3 7 3 3 9 ; 7

=B 7 3 3 3 7 7 3 3 3 3 9 3 3 7 9 7 3 9 9 7

=: ; 3 7 3 3 3 9 7 7 9 3 9 7 3 7 3 3 3 ; 3

=C 3 7 7 7 7 3 3 3 9 7 9 7 3 7 9 3 3 9 = 7

>4 9 3 3 3 3 3 7 7 7 9 7 3 7 3 7 7 3 9 9 ;

>3 3 3 7 3 7 3 3 3 9 3 9 7 3 7 9 3 3 9 ; 7

>7 9 3 7 3 3 3 7 9 3 9 7 9 7 3 7 7 3 3 = 3

>9 3 3 3 3 7 3 3 3 9 7 7 7 3 7 9 3 3 9 ; ;

>; ; 3 3 3 3 7 3 7 7 9 3 3 7 3 7 7 3 9 9 7

>= 3 3 7 3 7 3 3 3 3 3 9 7 9 3 9 3 3 9 ; 3

>> 3 3 7 7 9 3 7 9 9 9 7 3 7 7 7 7 3 9 9 7

>B 3 7 3 3 7 3 3 3 7 7 9 7 9 3 3 3 3 9 ; ;

>: 9 3 7 3 9 3 7 7 9 9 7 9 7 3 7 3 3 9 = 3

>C 9 3 3 3 7 3 3 7 9 9 9 3 3 7 3 7 3 7 = 3

B4 ; 3 7 3 7 3 7 9 7 7 9 3 7 3 3 7 3 7 = ;

B3 = 3 7 ; 3 3 3 7 3 9 9 9 3 7 3 7 3 7 ; 3

&A&ASA& 'ATI(
C9
A Study of Customer Satisfaction towards Depository Participants
B7 = 3 3 3 7 3 7 9 9 3 7 3 7 3 3 3 3 3 = ;

B9 = 3 7 7 9 3 3 3 3 9 9 9 3 7 3 7 3 7 ; ;

B; = 3 7 7 3 3 7 9 7 7 9 3 7 3 3 7 3 7 = 3

B= = 3 9 3 7 3 3 7 9 9 9 7 3 9 7 3 3 3 ; ;

B> ; 3 7 7 3 3 7 3 3 3 9 3 7 3 7 7 3 7 = 3

BB 7 3 7 3 7 3 3 9 3 9 7 9 9 7 3 3 3 3 ; ;

B: = 3 3 9 3 3 7 7 9 7 9 7 3 7 7 9 7 7 = 7

BC 9 3 7 3 7 3 3 3 7 9 7 3 7 3 7 3 7 3 ; 3

:4 3 3 3 3 9 3 7 7 3 7 9 9 3 7 7 7 7 3 = ;

:3 ; 3 3 3 7 3 3 9 3 9 7 7 7 3 7 3 7 9 ; 7

:7 = 3 7 7 3 3 7 3 3 7 9 3 3 7 3 7 7 3 = ;

:9 9 3 9 3 7 3 3 7 3 7 7 7 7 3 7 3 7 9 ; ;

:; 7 3 7 3 7 3 7 9 7 9 9 7 3 9 7 7 7 9 = 3

:= ; 3 3 9 3 3 3 3 7 3 7 3 7 3 3 3 7 3 ; ;

:> 9 3 9 3 7 3 7 7 3 9 7 9 3 7 7 7 7 9 = ;

:B 3 3 7 7 7 7 3 9 3 7 9 7 7 3 7 3 7 9 ; ;

:: = 3 3 3 7 3 7 9 7 7 9 3 3 9 7 9 9 3 =
5
:C 7 3 9 3 3 3 3 3 7 9 7 7 7 3 3 3 9 9 ; ;

C4 ; 3 7 3 7 3 7 7 3 7 9 7 3 7 7 7 9 9 > 3

C3 9 3 3 3 7 3 3 9 7 3 9 9 7 3 3 3 9 7 = ;

C7 7 3 7 3 3 3 7 7 7 9 7 7 3 7 7 9 9 9 > ;

C9 = 3 3 3 7 3 3 3 7 7 9 3 7 3 3 7 9 9 = ;

C; ; 3 7 3 7 3 7 9 3 7 9 7 3 7 7 9 9 9 = ;

C= 7 3 3 7 7 3 3 7 7 9 7 7 7 3 3 7 9 7 = ;

C> ; 3 7 3 3 3 7 3 3 7 9 3 3 7 7 3 9 9 > ;

CB 9 3 3 7 7 3 3 9 7 9 7 9 7 3 7 3 9 9 = ;

C: 7 3 7 7 3 3 7 7 3 7 9 3 3 7 7 3 9 7 = ;

CC ; 3 3 7 7 3 3 7 7 9 9 9 7 3 7 3 9 9 = ;

344 7 3 7 9 3 3 7 3 3 3 9 3 3 7 7 3 9 9 = ;

&A&ASA& 'ATI(
C;
A Study of Customer Satisfaction towards Depository Participants
,(OSSARY
Accou)t *ree%i)!: 'he $epository Participant may !ree)e the acco"nt o! a
cient maintained &ith him on &ritten instr"ctions received #y the Participant
in that regard !rom the cient concerned in the !orm speci!ied "nder the
B"siness 0"es.
Accou)t O$e)i)!- Any person &iing to avai the services o!!ered #y a
$epository sha open an acco"nt &ith a $epository Participant.
&e)eficiary: A person &ho #ene!its !rom a tr"st set "p on his ? her #eha! 1 anyone
&ho #ene!its !rom the proceeds o! a &i
A person &ho #ene!its !rom a contract"a or !id"ciary reationship
&e)eficiary I" +o: Dach #ene!iciary is aotted an I$ No. generated #y $P #y &hich
a #ene!iciary is identi!ied. 'his is simiar to yo"r Bank A?c No. Or the Foio No.
&SE: Bom#ay Stock e,change is one o! the odest stock e,changes in Asia &ith over
>,444 stocks isted.
&e)eficiary Accou)t: An investor or a #roker &ho &ants to hod shares in
demateriaised Idemat8 !orm and "ndertake scrip ess trading m"st have a depository
acco"nt caed #ene!iciary acco"nt &ith $epository Participant o! his choice.
C"S Centra $epository Sec"rities Ltd is an organi)ation promoted #y the stock
e,change %"m#ai, IBSD8 in association &ith Bank o! India, Bank o! Baroda, State
Bank o! India and @$FC Bank to provide eectronic depository !aciities !or sec"rities
&A&ASA& 'ATI(
C=
A Study of Customer Satisfaction towards Depository Participants
traded in the eA"ity and the de#t market. C$SL is the second depository in India.
Karvy is one o! the $epository Participants o! C$SL.
Cie)t Id: 2henever any cient opens an acco"nt &ith a $epository Participant he
?she is provided &ith an acco"nt n"m#er &hich is kno&n as the #ene!iciary acco"nt
n"m#er or the Cient Id. 'he com#ination o! the Cient Id and the $epository
Participant Id is "niA"e.
"eface: 'he cient Iregistered o&ner8 sha s"#mit a reA"est to the $P in the $0F !or
demateriaisation aong &ith the certi!icates o! sec"rities to #e demateriaised. Be!ore
s"#mission, the cient has to de!ace or cance the certi!icates #y &riting
MSK00DN$D0D$ FO0 $D%A'D0IALISA'ION+.
"efree%i)! of a) accou)t: 'he cient can reA"est his depository participant to
reease the s"spension order and de!ree)e the acco"nt !or reg"ar operations.
'he $epository participant sha de!ree)e the acco"nt ony a!ter receipt o! the
appication !or de!ree)ing signed #y a the acco"nt hoders
"eivery I)structio)s by cie)t: In order to trans!er sec"rities !rom his acco"nt to
another a #ene!icia acco"nt o&ner m"st give an instr"ction to his ? her $epository
Participant. A #ene!icia acco"nt o&ner m"st give instr"ction to his ? her $P to
trans!er
"R+: 2hen the sec"rities are !o"nd in order &ith the detais o! the reA"est as
mentioned in the !orm, the depository participant enters the detais in the $P%
I$epository participant %od"e, provided #y NS$L to the $P8 a
$emateriai)ation 0eA"est N"m#er I$0N8 is generated #y the system. 'he
&A&ASA& 'ATI(
C>
A Study of Customer Satisfaction towards Depository Participants
$0N so generated is entered in the space provided !or the p"rpose in the
$emateriai)ation 0eA"est Form. 'he reA"est is then reeased to $%
I$epository %od"e H $epository/s so!t&are system8. 'he $% !or&ards the
reA"ests to the Iss"er ? 0 1 ' agent eectronicay. Once the $0N is con!irmed
or accepted #y the Iss"er ? 0 1 ' agent the $% eectronicay a"thori)e the
creation o! appropriate credit #aances in the cient/s acco"nt. 'he $P% sha
credit the cient/s acco"nt a"tomaticay.
Eectro)ic 'ubic Offeri)! ;E'O:: An initia p"#ic o!!ering, or ne& iss"e o!
shares, in &hich the process o! appying !or shares is handed eectronicay Ivia
&e#sites8.
*ree%i)! of a) accou)t: Any cient can give instr"ctions, in the prescri#ed !orm, to
his $epository Participant to !ree)e his acco"nt either !or de#it or !or a operations.
Ony a!ter receipt o! the appication !or !ree)ing the acco"nt signed #y a the acco"nt
hoders the $epository Participant sha !ree)e the acco"nt ti !"rther notice received
!rom the cient in this regard.
*u)!ibe: $emateriai)ed shares do not have any distinctive n"m#ers or certi!icate
n"m#ers. 'hese shares are !"ngi#e H &hich means that 344 shares o! a sec"rity are
the same as any other 344 shares o! that sec"rity.
-y$othecatio): 'he pedging o! sec"rities as coatera. A cient having a #ene!iciary
acco"nt &ith a $P can hypothecate sec"rities in eectronic !orm against oan ? credit
!aciities e,tended #y a pedge, &ho has a #ene!iciary acco"nt &ith a $P. 'he creation
o! pedge ? hypothecation &i #e initiated #y the pedgor thro"gh its $P and the
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A Study of Customer Satisfaction towards Depository Participants
pedgee &i instr"ct its $P to con!irm the creation o! the pedge. 'he pedge ?
hypothecation so created can either #e cosed on repayment o! oan or invoked on
de!a"t. A!ter the pedgor repays the oan to the pedgee the pedgor &i initiate the
cos"re o! pedge ? hypothecation. In case o! de!a"t #y the pedgor in repaying the
oan to the pedgee, the pedgee may initiate invocation o! pedge ? hypothecation,
a!ter taking s"ch steps as may #e necessary as per the terms o! the "nderying
agreement &ith the pedgor and the Bye La&s and B"siness 0"es o! NS$L and SDBI
0eg"ations. In case o! hypothecation, the pedgor &i instr"ct its $P to con!irm the
invocation o! the hypothecation.
I)itia 'ubic Offeri)! ;I'O: : 'he !irst o!!ering o! a company/s shares to the p"#ic.
'he shares o!!ered may #e e,isting ones hed privatey, or the company may iss"e
ne& shares to the p"#ic.
I)ter "e$ository I)structio)s: InterF$epository 'rans!er means trans!er o! sec"rities
&hich are admitted !or demateriaisation on #oth the depositories !rom an acco"nt
hed in one depository to an acco"nt hed in the other depository
ISI+: Internationa Sec"rities Identi!ication N"m#er IISIN8 is a code that "niA"ey
identi!ies a speci!ic sec"rities iss"e.
Mar8et Trade: 'rades &hich are setted thro"gh the Cearing Corporation ? Cearing
@o"se o! an e,change are cassi!ied as M %arket 'rades M.
+S" 'he Nationa Sec"rities $epository Limited is an organisation promoted #y
the Ind"stria $eveopment Bank o! India, the Knit 'r"st o! India and the Nationa
Stock D,change o! India Limited to provide eectronic depository !aciities !or
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sec"rities traded in the eA"ity and the de#t market. NS$L commenced its operations
in the year 3CC> and is the !irst depository in India.
+SE: Nationa Stock D,change is one o! the eading stock e,changes in India. 'he
NSD has #een set "p #y eading instit"tions to provide a modern, !"y a"tomated
screen H #ased trading system &ith nationa reach.
Off Mar8et Trade: 'rades &hich are not setted thro"gh the Cearing Corporation ?
Cearing @o"se o! an e,change are cassi!ied as M O!! %arket 'rades M. Negotiated
trades &hich are not ceared and setted thro"gh the Cearing Corporation ? Cearing
@o"se are o!!Fmarket trades.
'ed!e: 'o deposit persona property as sec"rity !or a persona oan o! money. I! the
oan is not repaid &hen d"e, the persona property pedged sha #e !or!eit to the
ender. A cient Ipedgor8 having a #ene!iciary acco"nt &ith a $epository Participant
can pedge sec"rities in eectronic !orm against oan ? credit !aciities e,tended #y a
pedgee, &ho too has a #ene!iciary acco"nt &ith a $epository Participant.
Re#ateriaisatio): It is the process #y &hich a cient can get his eectronic hodings
converted into physica certi!icates. 'he cient has to s"#mit the remateriaisation
reA"est to the $P &ith &hom he has an acco"nt. 'he $P enters the reA"est in its
system, &hich #ocks the cient/s hodings to that e,tent a"tomaticay. 'he Iss"er ?
01 ' agent then prints the certi!icates, dispatches the same to the cient and
sim"taneo"sy eectronicay con!irms the acceptance o! the reA"est to NS$L.
'herea!ter, the cient/s #ocked #aances are de#ited.
Re!istrar a)d Tra)sfer A!e)t ;RTA: : A trans!er agent and registrar !or a p"#icy
hed company keeps record o! every o"tstanding share certi!icate and the name o! the
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A Study of Customer Satisfaction towards Depository Participants
person to &hom it is registered. 2hen the share changes hands, the trans!er agent
trans!ers the o&nership o! the stock !rom the seer/s name to the #"yer/s name. 'he
registrar reconcies a trans!er records and makes s"re that the n"m#er o! shares
de#ited is eA"a to the n"m#er o! shares credited.
Sette#e)t: It is the process #y &hich investors pay !or shares they have #o"ght and
receive payment !or shares they have sod. It is aso the process #y &hich the investor
deivers the shares he has sod to the cearing ho"se and receives the shares &hich he
has p"rchased !rom the cearing ho"se o! a recogni)ed stock e,change.
Sette#e)t "ay: 'he day on &hich p"rchased sec"rities are d"e !or deivery to the
#"yer and payment is d"e to #e made to the seer.
State#e)t of -odi)!: A statement o! hoding detais o"t the c"rrent #aance in a
depository acco"nt. At east once every !ortnight the $epository participant sends a
statement o! @odings to its cients.
State#e)t of tra)sactio): A statement o! transaction detais o"t the vario"s
transactions done thro"gh that depository acco"nt. At east once in every !ortnight the
$epository Participant sends a statement o! transaction to its cients. Karvy/s Onine
$emat services ena#e its cients to vie& their statement o! transactions on the net.
Tra)sferabiity of Shares: Shares in a company are !reey trans!era#e, s"#(ect to
certain conditions, s"ch that no sharehoder is permanenty or necessariy &edded to a
company. 2hen a mem#er trans!ers his shares to another person, the trans!eree steps
into the shoes o! the trans!eror and acA"ires a rights o! the trans!eror in respect o!
those shares. For demateriaised shares the depository participant de#its and credits
the acco"nt o! the cient &ith an a"thorisation !rom s"ch cient.
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A Study of Customer Satisfaction towards Depository Participants
Tra)s#issio): 'ransmission o! shares denotes a process #y &hich o&nership o! share
is trans!erred on ega heir or to some other person #y operation o! a&. In case o!
transmission no trans!er deed and no stamp d"ty is reA"ired. 'ransmission o! shares
generay takes pace in case o! death, insovency or menta iness or p"rchase in case
o! shares #y co"rt or in case o! amagamation, &here the amagamating company
hods shares in vario"s companies.
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&I&(IO,RA'-Y
Eeb sites
• &&&.karvy.com
• &&&.indiain!oine.com
• &&&.sharekhan.com
• in!oWnsd.co.in
Books
• Company #ooks 1 Broch"res
• NS$L Books

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