No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in investor’s account.
KYC is one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
India’s premier bank provides you the platform to BUY, SELL, TRANSFER your securities through just 2 Step Process :
Bank of Baroda India’s International Bank now offers you the opportunity to deal and open a Demat account. We are depository participant of Central Depository Services Ltd as well as National Securities Depository limited
An individual, Non-Resident Indian, Foreign Institutional Investor, Trusts, Clearing Houses, Financial Institution, Clearing Members and Mutual Funds can open a Demat account.
For opening a Demat account, you have to fill account opening form and submit a photograph of the applicant along with the photo copies of the following documents and your account number will be intimated to you on completion of processing of your application
Besides a quick and hassle free process to open an account you will also get additional utilities designed by depositories for customers convenience as below
We at Bank of Baroda are operating from our Back Office located at the following address :
If not satisfied with response of the Depository Participant, you may contact the concerned Stock Exchange / Depository at the following :
Dematerialization (Demat) is the process by which securities held in physical form evidencing the holding of securities by any person are cancelled and destroyed and the ownership thereof is entered into and retained in a fungible form on a depository by way of electronic balances.
Demat facilitates paperless trading whereby securities transactions are executed electronically reducing / mitigating possibility of loss of related documents and / or fraudulent transactions.
Trading in demat form is regulated by the Depositories Act, 1996 and is monitored by the Securities and Exchange Board of India (SEBI). There are only two depositories presently functioning in India and they are the National Securities Depository Limited (NSDL) & the Central Depository Services (India) Limited (CDSL).
Basic Services Offered by Depositories
Under the provisions of the Depositories Act, the National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL) provide various services to investors and other participants in the capital market. This system, which facilitates paperless trading, offers various direct and indirect services to the market participants.
A depository cannot directly open account and provide services to clients. Any person willing to avail of the services of the depository can do so by entering into an agreement with the depository through any of its Depository Participants (DPs).
Depository Participant (DP)
works as an agent of the depository i.e. NSDL & CDSL. The various activities must be carried out as per prescribed procedures, failing which respective depositories impose financial penalties on DPs during audit and inspection. Hence, between the depository and the investors, the relationship care must be taken while carrying out various activities. Depository Participant (DP) is in fact an intermediary between the investor and the depository and is governed by an agreement made between the two (i.e. investor and DP) under the Depositories Act.
CM : This account can be opened by a broker or by a clearing member for the purpose of settlement of trades executed on a recognized stock exchange.
Benefits of Depository System
- No stamp duty on transfer of shares.
- Quick transfers / settlements (the very next day of pay-out).
- Elimination of bad deliveries, forgery, loss of certificate in transit etc.
- Reduced paper work (no filling of transfer deed, affixation of stamps and lodgment of shares for transfer with the company.
- Security of the stocks held as they are held in electronic form and hence no worries of holding the securities physically at home and avoidance of possible loss or theft of the certificate/s; mutilation; forgery etc.
- Facility to pledge/ hypothecate the securities.
- Facility of trading in Odd lots.
- Quick transfer of shares.
- Nomination facility available (For individuals)
- In case of death of sole / Joint holder/s easy transmission of shares to the nominee or surviving joint holder/s.
- Facilitates the Company to determine entitlements like dividends and bonus easily and faster.
To avail of the various services offered by Depositories (NSDL /CDSL), an investor/ a broker / an approved intermediary (for lending & borrowing) has to open an account with a DP.
Types of Accounts
An investor who wants to hold securities in Dematerialized (Demat) form and receive or deliver securities by inter-account transfers must have an account called beneficiary account with a DP of his choice.
Clearing Member Account
Member brokers of those stock exchanges which have established electronic connectivity with NSDL/CDSL need to open a clearing member account, with a DP of his choice, to clear and settle trades in the Demat form. This account is popularly known as Settlement account or "Pool account". This account is meant only to transfer securities to and receive securities from the clearing corporation/ house and hence, the member broker does not have any ownership (beneficiary) rights over the shares held in such an account.
The process of opening a Demat account is very similar to that of a bank account. There are some common details which are required for any type of account opening with the DP, these are:
- Name of the account holder
- Date of birth (for individual accounts)
- Occupation and financial details
- Address & phone/fax number
- Bank details like name of bank, type of account (current/savings), account number, branch address, MICR, etc.
- PAN number
- Details of nomination (for individual accounts only)
- Specimen signature.
- E-mail address
- Mobile number
- Address for communication
The Asst. General Manager/ Chief Manager
Bank of Baroda, Baroda Sun Tower,
D.O.T. (Demat operation team)
Central Back Office DP Operations (CBODPO)
Ground Floor, C-34, G-Block
Bandra Kurla Complex, Bandra East, MUMBAI- 400 051
Tel : 022 6698 4921/4935/4937/4944
Fax : 6698 4934
E-mail : firstname.lastname@example.org
In Case of any grievance / complaint against the stock Broker / Depository Participant:
Compliance Officer of the Bank of Baroda
Mr. Manoj Kumar
E-mail : email@example.com
Phone No. :022 6698 4921
Assistant General Manager
Mr. Anil K. Sulekh
E-mail : firstname.lastname@example.org
Phone No. : 022 6698 3277
BOB offers you free sms alerts facility in all your Demat Accounts (with BOB). Just fill the sms alerts form and put your mobile number in it.
The SMS alert helps you to a great deal in tracking and monitoring your transactions.
You will be instantly updated as your transaction is done.