What is ’Standing Instruction’ given in the account opening form?
In a bank account, the account is credited only when a ’paying in’ slip is submitted along with cash/cheque. Similarly, in a depository account ’Receipt in’ form has to be submitted to receive securities in the account. However, for the convenience of investors, the facility of ’standing instruction’ is provided. If you say ’Yes’ for standing instruction, you need not submit ’Receipt in’ slip every time you buy securities.
