To All Members,
Sub: Enhancement of operational efficiency and Risk Reduction - Pay-out of securities directly to client demat account
This is with reference to SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/75 dated June 05, 2024, Exchange Notice No. 20240605-64 dated June 05, 2024, Notice No. 20240705-37 dated July 05, 2024, Notice No. 20240823-55 dated August 23, 2024, Notice No. 20240911-56 dated September 11, 2024, Notice No. 20241004-58 dated October 04, 2024, Notice No. 20241008-32 dated October 08,2024, Notice No. 20241010-26 dated October 10,2024, Exchange Notice No. 20241109-9 dated November 09, 2024 , Exchange Notice No. 20250110-47 dated January 10, 2025 and Exchange Notice No 20250116-37 dated January 16, 2025 on “Enhancement of operational efficiency and Risk Reduction - Pay-out of securities directly to client demat account”.
Trading Members are requested to make a note of the below changes with regards to implementation of Enhancement of Operational Efficiency and Risk Reduction - Payout of Securities directly to client demat account:
- Validated Primary Demat account details of clients categorized as Non-Resident Indians (NRIs), shall be sent to the Clearing Corporations (CCs). Hence, payouts of NRIs shall be credited directly to client’s Validated Primary Demat account.
- Additionally, the Validated Primary Demat account details of clients categorized as Depository Receipts (DR), shall not be sent to the CCs during phase 1. Hence, payouts of DR shall continue to be credited as per the current process. Any changes in procedure of pay-out with respected to DR client shall be communicated in due course
To assist the Trading Members to identify the status of the invalid demat accounts, the Exchange has provided an option to generate real time basis report in UCC Portal. This report provides a comprehensive status of all active UCCs with invalid demat accounts.
Report Name : UCC à UCC Invalid DP Details Full Dump
File Output/Report Path : Extranet
Trading Members are advised to take note of the above.
In case of any clarifications, members may contact us on details given as under:
For and on behalf of BSE Ltd.
Umesh Hanjankar Poonam Pisat
Deputy General Manager Manager
Investigation Investigation |