Depository
- At Present There are Two major Depositories in India.
- 1) National Securities Depository Limited generally referred to as NSDL
- 2) Central Depository Services(India) Limited generally referred to as CDSL.
- NSDL was the first depository in India. It is promoted by Industrial Development Bank
of India Limited (IDBI) , Unit Trust of India (UTI) and National Stock Exchange of India
Limited (NSE) Some of the prominent banks in the country such as State Bank of India,
HDFC Bank Limited, Deutsche Bank A.G., Axis Bank Limited, Citibank N.A., Standard
Chartered Bank, The Hongkong and Shanghai Banking Corporation Limited, Oriental
Bank of Commerce, Union Bank of India, Dena Bank, Canara Bank have taken a stake in
NSDL
- CDSL was promoted by Bombay Stock Exchange Limited (BSE) jointly with leading
banks such as State Bank of India, Bank of India, Bank of Baroda, HDFC Bank, Standard
Chartered Bank, Union Bank of India and Centurion Bank.CDSL received the certificate
of commencement of business from SEBI in February, 1999. Settlement of trades in the
demat mode through BOI Shareholding Limited, the clearing house of BSE, started in
July 1999.
- At present Practically 100% of the Indian Capital Market transactions are done in
Demateriliasation form through above two Depositories/
About US Depository
DP ID – 303374 (VFC SECURITIES PRIVATE LIMITED)
- We VFC Securities Private Limited is a Depository participant With NSDL. Being a
Depository Participant, Clients Can Open their Demat Account with US.
- Client can Open the Demat account with us and keep their shares, Mutual funds etc. in
their Demat account. Services offered by us is very Personalised to the client.
- We also offer POA facilities to our Depository Client who also have a trading account
with us, where in client can opt to transfer their shares sold in the stock Exchange, to be
delivered to the exchange through us via POA. The advantage with this system is that
client does not have to fill in the Transfer slip every time they sell the shares in the stock
exchange. The disadvantages of the POA system is that they need to give specific Power
of Attorney to their Broker for transfer of their shares in the exchange. It is advised that
client should take very informed decision of giving POA to the brokers after considering
the brokers Net worth, their Financial dealings, their Morality etc…
To open the Demat Account, kindly Visit the “OPEN AN ACCOUNT” link and fill
up the available form with necessary details.
Standard Charges to Operate Demat account is Given herewith for the reference.