INVESTOR CHARTER FOR DEPOSITORY PARTICIPANTS
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Vision
Towards making Indian Securities Market - Transparent, Efficient, & Investor friendly by providing safe, reliable, transparent and trusted record keeping platform for investors to hold and transfer securities in dematerialized form.
Mission
- To hold securities of investors in dematerialised form and facilitate its transfer, while ensuring safekeeping of securities and protecting interest of investors.
- To provide timely and accurate information to investors with regard to their holding and transfer of securities held by them.
- To provide the highest standards of investor education, investor awareness and timely services so as to enhance Investor Protection and create awareness about Investor Rights.
Details of Business Transacted by the Depository and Depository Participant (DP)
A Depository is an organization which holds securities of investors in electronic form. Depositories provide services to various market participants - Exchanges, Clearing Corporations, Depository Participants (DPs), Issuers and Investors in both primary as well as secondary markets. The depository carries out its activities through its agents which are known as Depository Participants (DP).
Description of Services Provided by the Depository through Depository Participants (DP) to Investors
(1) Basic Services
Mandatory Processing Timelines| Sr. No. | Brief about the Activity / Service | Expected Timelines for processing by the DP after receipt of proper documents |
|---|---|---|
| 1. | Dematerialization of securities | 7 days |
| 2. | Rematerialization of securities | 7 days |
| 3. | Mutual Fund Conversion | 5 days |
| 4. | Re-conversion of Mutual fund units | 7 days |
| 5. | Transmission of securities | 7 days |
| 6. | Registering pledge request | 15 days |
| 7. | Closure of demat account | 30 days |
| 8. | Settlement Instruction | For T+1 day settlements, Participants shall accept instructions from the Clients, in physical form up to 4:00 p.m. (in case of electronic instructions up to 6:00 p.m.) on T day for pay-in of securities. For T+0-day settlements, Participants shall accept EPI instructions from the clients, till 11:00 AM on T day. Note: 'T' refers to 'Trade Day' |
(2) Depositories provide special services like pledge, hypothecation, internet-based services etc. in addition to their core services and these include:
| Sr. No. | Type of Activity / Service | Brief about the Activity / Service |
|---|---|---|
| 1. | Value Added Services | Depositories also provide value added services such as: (4)Distribution of cash and non-cash corporate benefits (Bonus, Rights, IPOs etc.), stock lending, demat of NSC / KVP, demat of warehouse receipts etc. |
| 2. | Consolidated Account Statement (CAS) | CAS is issued 10 days from the end of the month (if there were transactions in the previous month) or half yearly (if no transactions). |
| 3. | Digitalization of services provided by depositories | Depositories offer below technology solutions and e-facilities to their demat account holders through DPs: |
Details of Grievance Redressal Mechanism
(1) The Process of investor grievance redressal
Investor can lodge complaint/ grievance against the Depository/DP in the following ways:
Investor Complaint/ Grievances
Electronic mode -
Two Level Review for complaint/grievance against DP:
- First review done by Designated Body
- Second review done by SEBI
Offline Mode
The complaints/ grievances lodged directly with the Depository shall be resolved within 21 days.
Online Dispute Resolution (ODR) platform for online Conciliation and Arbitration
If the Investor is not satisfied with the resolution provided by DP or other Market Participants, then the Investor has the option to file the complaint/ grievance on SMARTODR platform for its resolution through by online conciliation or arbitration.
Register on SMART ODRSteps to be followed in ODR for Review, Conciliation and Arbitration
(2) Illustration of New Grievance Redressal System
The flow-chart of New Grievance Redressal System.
Guidance pertaining to special circumstances related to market activities: Termination of the Depository Participant
| Sr. No. | Type of special circumstances | Timelines for the Activity/ Service |
|---|---|---|
| 1. |
| Client will have a right to transfer all its securities to any other Participant of its choice without any charges for the transfer within 30 days from the date of intimation by way of letter/email. |
Dos and Don'ts for Investors
The comprehensive guidelines for investors to be followed while dealing with Depository Participants.
Rights of Investors
Statutory rights guaranteed to beneficial owners under SEBI regulations.
Responsibilities of Investors
Safeguards, verification obligations, and responsibilities expected from every investor.
Code of Conduct for Depositories
Part D of Third Schedule of SEBI (Depositories and Participants) Regulations, 2018.
Code of Conduct for Depository Participants (DPs)
Part A of Third Schedule of SEBI (Depositories and Participants) Regulations, 2018.
Ratnakar Securities Limited
SEBI Registration No. of NSE & BSE : INZ000191735 | SEBI Registration No. of NSDL : IN-DP-633-2021