Geojit is a SEBI registered intermediary that is a Depository Participant of NSDL & CDSL.
This allows investors to open demat accounts with NSDL & CDSL through the company by opening a demat account with us and becoming our client.
Depository Services offered by Geojit
What is a depository?
- De-materialization: You can convert your physical shares into electronic form by surrendering the shares for dematerialization at the the company’s branch.
- Re-materialization: Re-materialization enables you to convert the dematerialised shares into physical form.
- Repurchase: This facility helps you to submit the units of open-ended Mutual Funds in case of re-purchase.
- Pledge: You can pledge securities to avail a loan.
- Account Transfer: You can transfer securities from one demat account to another.
- IPOs: : In case you have applied for an IPO and receive an allotment then the securities are transferred directly to your demat account. The same applies for bonus and rights issues.
- Corporate actions: These are the benefits given by a company, may be either monetary benefits like dividend, interest or non-monetary benefits like bonus, rights, etc to the investors. Depository facilitates distribution of such benefits.
- Nomination: Individual account holders can avail of this facility by furnishing duly filled Nomination Form. Transmission of securities where nomination has been made eliminates the need of cumbersome legal documents such as will, succession certificate etc.
- Transmission: Transfer of securities balances in a demat account due to death, bankruptcy, lunacy etc of the account holder. It is not a voluntary act of the account holder and this transfer is brought about by operation of law. The transmission process through the depository is simple and fast.
- E- services:: Account holders will have access to various internet based services provided by Depositories to their account holders. This helps the account holder to submit account transfer instructions via internet by avoiding physical submission and view transaction/holding statement online.
- Integrated Customer Care Site: Demat account holders will have access to our integrated customer care website. This is very beneficial as you can avail of a host of services at no extra cost. You will be able to view your holdings, reports, ledger and will have free access to our research reports at any time.
- SMS Alert Facility: The alert messages for all debits (account transfers), credits for IPO, subdivision & bonus, failed and overdue debit instructions, change of address & mobile number, invocation of pledged securities, registration & de-registration of Power of Attorney, and modification/cancellation of Nominee would be sent to the account holders who have subscribed to this facility. Depository provides this facility and no charge is levied for providing this service to investors
A depository can be compared to a bank. It holds securities such as shares, debentures, bonds, government securities, units etc. of investors in electronic form. There are two depositories in India, The National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).
An individual who desires to avail the depository services can approach a Depository Participant (DP). Banks, financial institutions, custodians, brokers or any other entity eligible as per SEBI (Depositories and Participants) Regulations, 1996 to act as a DP may be approached for depository services.