The Depository system was introduced in India more than a decade back.
Today the word "Demat" is well known and most of the investors are conversant with the Demat of shares and securities.
Presently, there are only two depositories functioning in India and they are:-
- National Securities Depository Limited (NSDL) and
- Central Depository Services (India) Limited (CDSL).
Financial Institutions, banks, custodians and stockbrokers complying with the requirements prescribed by Securities & Exchange Board of India (SEBI) can be registered as a Depository Participant (DP).
A "Depository Participant" is an agent of the Depository (NSDL or CDSL) who is authorized to offer depository services to investors. Thus to open a Demat account of
an investor, a bank or its branch has to get registered as a DP of a depository i.e. NSDL or CDSL or both.
Centralization of DP Operations in our Bank:
The above pattern of DPs, at different branches, represents a distributed database and operations in which each of the above DPs is separately linked to either CDSL or NSDL. However, to have a better control & to consolidate DP operations and make available the facility to a large number of branches, our bank, under technology enabled Business Transformation Programme, has initiated steps to have a centralized DP operations by migrating the above DPs and their data to a centralized set up and link up identified CBS branches in India to this centralized set up. This approach shall enable Bank to offer Depository services to customers across large number of CBS branches.
We are now pleased to inform our customers that the DP from Capital Market branch, Baroda has since been shifted to following location and the centralized set up, named as Central Back Office-DP Operations (CBODPO), has commenced its operations w.e.f. 15/01/07.
With the shifting of data to CBODPO, branches offering DP services will continue to serve the customers at their counters.
From 19.02.2007, data pertaining to DP of NSDL at PBB, Mumbai branch has also been migrated to CBODPO. The accounts maintained at other remaining 6 DPs (CDSL and NSDL both) are also proposed to be migrated to this set up in due course.
Roll-out of facility to open and maintain Demat Accounts at identified CBS Branches:
The facility to open a Demat Account is being rolled out to CBS branches in India through web-based application named DEBOS.
The CBODPO operates as "Back Office" through the said web based application DEBOS. This application is being enabled at the CBS branches in a phased manner and such CBS branches shall act as "Front Office" for opening Demat accounts and for providing various other Demat related services to our customers/investors.
At present, more than 1000 CBS (Core Banking Solution) branches in India has been enabled for offering DP services of CDSL/NSDL. This network is proposed to be progressively increased. (Click here for the list of CBS branches authorized to open Demat accounts)
A non-CBS branch in India may, however, extend the services to the customers by forwarding the Demat Account Opening Form to the nearest CBS branch, enabled to work on DEBOS.
Our bank's following branches (except branch at serial No. (i) and (vi)) also operate as independent DP of CDSL or NSDL.
| S. No. |
Name of the branch |
DP of |
| 1 |
Capital Market , Baroda |
Branch since linked to CBODPO |
| 2 |
Paud Road, Pune |
CDSL |
| 3 |
Ballygunj, Kolkata |
CDSL |
| 4 |
Ghatkopar (West), Mumbai |
CDSL |
| 5 |
PFS, Kandivli (West), Mumbai |
Branch since linked to CBODPO |
| 6 |
Personal Banking Branch, Mumbai |
Branch since linked to CBODPO |
| 7 |
Bhadra, Ahmedabad |
NSDL |
| 8 |
Parliament Street, New Delhi |
NSDL |
The DPs at Sr. No. (i) and (vi) have since been shifted to Central Back Office at Mumbai
Some Concepts:
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