1. How will I know that my DP has updated my account after each transaction?
Your DP will give you a Transaction Statement periodically, which will detail your current balances and the various transactions you have done through the depository account. If you so desire, your DP may provide the Transaction Statement at intervals shorter than the stipulated ones, probably at a cost. A format of statement of transactions is reproduced as Annexure.
2. At what frequency will I receive my Transaction Statement from my DP?
You will receive a Transaction Statement from your DP once in a quarter. If you have done any transaction during the quarter, you will receive the statement within fifteen days of the transaction.
3. What is to be done if there are any discrepancies in my transaction statement?
In case of any discrepancy in the transaction statement, you can contact your DP. If the discrepancy cannot be resolved at the DP level, you should approach NSDL.
NSDL also sends out a statement of holdings to a few clients of DPs, picked at random. In case the balance in your account as indicated by your DP does not tally with the balance as indicated by NSDL, you can contact your DP/ NSDL for clarification.
4. What happens if I lose my Transaction Statement?
Simple. Inform your DP and obtain a duplicate Transaction Statement.
5. What security do I have if the only proof of my holdings in the depository is merely a piece of paper indicating my account balance?
No transaction can be effected in your account without your written authorisation. Further, if you are away for a long time, you have the facility of freezing your account wherein only credits into your account will be allowed and no debit will be possible.
6. What will happen if my DP goes bankrupt or stops operation?
In a rare event of your DP going bankrupt or closing the operation, the interests of the investors will be fully protected. In such a situation, the investor will be given option of either transferring the securities to a new DP or else he may rematerialise the securities.
7. What precautions does NSDL take to protect the data in its depository system?
The data carries a high importance in the NSDL depository system. NSDL has taken necessary steps to protect the transmission and storage of data. The data is protected from unauthorized access, manipulation and destruction. The following back up practices are adopted to protect the data:
- Local Back up
- Remote Back up
- Disaster Recovery Site
In addition to this, every DP is required to take daily back up, at the end of each day of operation.
8. Can I freeze my account?
The depository system provides the facility to freeze the depository accounts for any debits or for both debits and credits. In an account which is "freezed for debits", no debits will be permitted from the account, till the time it is defreezed. This is the additional security feature for the benefit of the investors.
9. What should I do if my DP is unable to resolve my problem?
In case of failure of a DP to resolve your grievance, you can write to the investor grievance cell at the following address:
The Officer in Charge
Investor Grievance Cell
National Securities Depository Limited
4th Floor, Trade World, Kamala Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai - 400 013.