What are the features of depository and depository participant?
• 1. The DP will provide you with a passbook or ‘Statement of Account’ periodically to inform you on your holdings. • 2. You can even have a zero balance in your account. • 3. If you lose your ‘Statement of Account’, inform the DP and obtain a duplicate. • 4. If holdings in the statement are incorrect, approach the DP for clarification. • 5. If you receive an incorrect dividend amount or do not receive it at all, contact the company or registrar. • 6. If looking for a loan against your securities, you will have to pledge them in favour of the lending institution by applying to your DP in the prescribed form. After repayment of the loan request redemption of the pledge, by applying to your DP. • 7.
Related Questions
- I have purchased some shares in paper form. Can I directly give the share certificates to my Depository Participant for dematting them in my favour?
- I have purchased some shares in paper form. Can I directly give the share certificate(s) to my Depository Participant for demating them in my favour?
- What are the features of depository and depository participant?
