demat account
This query is : Resolved
30 October 2008
how can i get a demat account what is DP
30 October 2008
DP is depository Participant.
You can approach a DP who will help you in this regard.
You can approach a DP who will help you in this regard.
31 October 2008
Previously only few parties lik NSDL etc used to provide Demat acs but now RBI authorises different banks to open demat account by its customers in that banks.
for ex if you hav an account in SBI...you can open with them by giving an application and provide necessary details to open demat account.
CDSL's demat services are extended through its agents called Depository Participants (DP). The DP is the link between the investor and CDSL. An investor who opens a demat account with a DP can utilise the services offered by CDSL. While the DP processes the instructions of the investor , the account and records thereof is maintained with CDSL. A DP is thus a "service centre" for the investor.
CDSL's system is based on centralised database architecture with on-line connectivity with DPs. Because of this centralised architecture, the cost for setting up a DP outfit under CDSL system is significantly lower. Similarly, the recurring costs to be incurred by a CDSL-DP in terms of maintaining back-ups and the related data storage are minimal. This enables a CDSL-DP to offer depository services to investors at an attractive price and at the same time achieve break-even faster at much lower volumes. The centralised architecture also allows CDSL-DP to make available to the investors a to-the-minute status of their account and transactions.
CDSL-DPs can also set up branches with direct electronic connectivity with CDSL.
see this link for an article on DPs
http://www.icwai.org/icwai/knowledgebank/fm13.pdf
for ex if you hav an account in SBI...you can open with them by giving an application and provide necessary details to open demat account.
CDSL's demat services are extended through its agents called Depository Participants (DP). The DP is the link between the investor and CDSL. An investor who opens a demat account with a DP can utilise the services offered by CDSL. While the DP processes the instructions of the investor , the account and records thereof is maintained with CDSL. A DP is thus a "service centre" for the investor.
CDSL's system is based on centralised database architecture with on-line connectivity with DPs. Because of this centralised architecture, the cost for setting up a DP outfit under CDSL system is significantly lower. Similarly, the recurring costs to be incurred by a CDSL-DP in terms of maintaining back-ups and the related data storage are minimal. This enables a CDSL-DP to offer depository services to investors at an attractive price and at the same time achieve break-even faster at much lower volumes. The centralised architecture also allows CDSL-DP to make available to the investors a to-the-minute status of their account and transactions.
CDSL-DPs can also set up branches with direct electronic connectivity with CDSL.
see this link for an article on DPs
http://www.icwai.org/icwai/knowledgebank/fm13.pdf
Message likes :
1 times
31 October 2008
Congratulations for a nice detailed reply.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- FORM 26A APPLICABILITY
- Value of property in capital gain
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
