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What is a depository?
A depository facilitates the holding and/or transacting securities in book entry form. In other words, a depository takes the ownership guarantee of the shareholders by holding those securities and other market instruments which are listed in the secondary market, distributed or allotted and can be deposited into the electronic form. The investor has to open a demat account to avail the services of depository. Additionally, the depository maintains the record in the account of the investors.
What kind of company is CDS and Clearing Ltd. (CDSC)?
CDS and Clearing Ltd. is the sole depository in Nepal established in 2067 B.S. under Company Act 2063 with an objective to render service of dematerialization of securities. It is wholly owned subsidiary company of Nepal Stock Exchange Ltd. (NEPSE). The authorized capital and issued capital of CDSC is NRs. 500 million and NRs. 300 million respectively.
What is the objective of CDSC?
The major objective of CDSC is to render the service by dematerializing the securities (such as shares, preference shares, debentures, bond, government securities, etc.) and update the transactions in the record by safeguarding the deposit on behalf of the buyers.
What are the services provided by CDSC?
The services CDSC provides are as mentioned below:
- Deposit, withdrawal and transfer of securities,
- Electronic credit of securities directly into the investor’s demat account allotted in Initial Public Offering (IPO),
- To safeguard the investors’ securities into the electronic form and to debit/credit the particular investor’s account as per the transactions occurred in the book entry system,
- Quicker distribution of securities allotted by issuers under IPO and corporate actions and benefits of the issuers,
- To provide secure and convenient electronic procedures for pledge and unpledge of securities.
- To provide updated statement and reconciliation statement.
Who are the parties involved with CDSC?
The following parties are involved with CDSC:
- Beneficial Owner (BO) : The investor
- Depository Participant (DP) : Agent of the depository
- Issuer : Issuing Company
- Registrar and Transfer Agent (RTA) : Agent of the Issuer
- Stock Brokers
What is Dematerialization (Demat)?
Dematerialization is a process of converting physical securities into electronic form.
What are the purpose of opening a demat account?
The purpose of opening a demat account are as mentioned below:
- To convert the physical securities into the electronic form,
- To deposit and transfer the NEPSE listed securities in a dematerialized form ,
- To credit the securities allotted through IPO and corporate actions (such as rights share issue, bonus issue, merger, etc.) in a dematerialized form,
- To receive the statement of the securities held in a demat account,
- To pledge the securities held in a demat account,
- To rematerialize the securities held in a demat account.
What is rematerialization (Remat)?
Rematerialization is the process of converting securities held in a demat account in electronic form back in physical certificate form.
Who is a Beneficial Owner (BO)?
A Beneficial Owner is the person who have opened the demat account with CDSC through a registered DP in order to deposit their securities or instruments which are capable of being deposited in demat form.
Who is a Depository Participant (DP)?
A Depository Participant is an agent of the depository who has received the registration certificate from the Security Board of Nepal and the membership license from CDSC.
To be an authorized DP, the DP has to comply following eligibility criteria:
- Shall be a Bank or Financial Institution, Stock Broker, Registrar and Transfer Agent, custodian or such other entity as may be prescribed by the Board from time to time,
- Shall have minimum net worth of rupees ten million,
- Have not been black listed by Credit Information Bureau.
Who is an Issuer?
An issuer means any entity such as corporate bodies/ government organizations that issue securities or market instruments to the public to raise its capital and those securities and instruments can be held in depository in electronic form.
Who is a Registrar and Transfer Agent (RTA)?
Registrar and Transfer Agent (RTA) means any person / body corporate who on behalf of any corporate body, maintains the records of holders of securities issued by such body corporate and deals with all matters connected with the transfer and redemption of its securities.
What is an ISIN (International Securities Identification Number)?
An ISIN is a unique 12 digit alphanumeric code given to the securities such as shares, preference shares, debentures, bonds, etc. when the security is admitted in the depository system. The first two digits of the ISIN code indicate country of registration for the security.
What is BOID (Beneficial Owner Identification Number)?
BOID is a unique 16 digit identification number given to BO which is generated only when BO opens the demat account in CDSC through an authorized DP. BOID must be mentioned in all future transactions. BOID cannot be duplicate. It means two BOs cannot have same BOID which replicates that the securities cannot be transferred into the wrong account.
Can different securities issued by the same issuer have same ISIN?
No, different securities issued by the same issuer will have different ISIN code.
What are the services provided by a DP to the investors?
DP provides the following services to the investors:
- To open the demat account, DDematerialization of securities,
- Rematerialization of securities,
- To maintain record of securities in the electronic form,
- Settlement trades by transferring/receiving the securities from/in BO accounts,
- Settlement of off-market trades that is occurred between BOs outside NEPSE,
- To provide electronic credit of securities allotted by issuers during IPOs,
- To deposit the non financial corporate benefits (such as: bonus, right shares, etc.) issued by issuers in the demat account of BOs,
- To facilitate in pledging of dematerialized securities.
Which software does CDSC use for depository system? Who is the provider of that software?
CDSC uses three different software for depository system. They are as follows:
a.Central Depository Accounting System (CDAS)
b.Clearing and Settlement (CNS)
c.DP Secure (DPS)
The above mentioned software is provided by CMC Limited. These software are also been used by Central Depository Services (India) Limited (CDSL) and Central Depository Bangladesh Limited (CDBL). CDSL has been providing various advices and technical support to CDSC.
What kind of company is CDSL?
CDSL is sponsored by the Bombay Stock Exchange Limited (BSE) and a cross-section of leading Indian & foreign banks. While 36.61% of the equity capital of CDSL is held by BSE, more than 62% is held by leading banks. CDSL facilitates the holding of securities that are listed in secondary market of India in electronic form and enables securities transactions to be processed by book entry through a DP.
What precaution does CDSC apply for the security of data in the system?
The data in CDSC system is very significant. CDSC implies the proper precautions to secure the processed and stored data. This system safeguards the data from unauthorized access, misuse and unpredictable loss. CDSC uses following back up to secure the data:
- Local Back Up
- Remote Back Up
- Disaster Recovery Site
Additionally, DP also maintains Back Up for each day transaction.
What are the benefits for issuers in CDSC system? CDSC offers numerous benefits to the issuers of securities. Some of the benefits are:
DThe issuers can save considerable time and money being incurred on its share department in case of transfer of securities.
- Dematerialized securities are not subject to loss, theft, mutilation or misuse by faking or forging certificates, thereby saving companies from lengthy correspondence, litigation and complaint handling. It will, therefore, eliminate instances of bad delivery.
- All non-cash corporate actions such as rights, bonus, mergers, consolidations, subdivision of holdings, conversion of securities, issuing securities on mergers/ amalgamations and in IPO can be handled in demat form without any hassles in the shortest possible time and at very low cost.
- With the CDSC’s centralized database, the issuer can get upto-the-moment information on any changes in its holding pattern of a security. Thus, the company effectively monitors the change in holding and is alert to any undue threat.
- Issuers can save substantial time of managing the share department. It reduces the work load of the department and allows the management to use the excess manpower in other productive departments.
- New technology like e-Voting system for corporate improves transparency and corporate governance standards and also helps in reducing the administrative cost associated with postal ballot while facilitating declaration of results immediately after the close of the voting. Issuers can hugely benefit from such advanced technology which is possible to achieve through a central depository company.
Can a demat account be directly opened with CDSC?
A demat account cannot be directly opened with CDSC. The demat account has to be opened only through a DP of CDSC.
Can an investor, already having a demat account with CDSC; open another account?
An investor, already having demat account with CDSC; can open another demat account.
What are the benefits of opening a demat account for investors?
A demat account has become a necessity for all categories of investors due to numerous following benefits:
Eliminates risk associated with physical certificates:
In demat system, the ownership of securities are held in electronic form. Hence, the risk associated with physical certificates such as loss during carrying of certificates from one place to another, worn out, theft, cost incurred while making the duplication of certificates, etc. are eliminated.
D Immediate transfer of securities:
When an investor buys securities from the market, the securities are immediately credited into his/her account along with the ownership. The securities do not have to be sent to RTA for transfer of ownership in demat system. Moreover, the investors do not have to wait for a long time period to get registered in the book of RTA as the legal owner of the securities.
Immediate settlement cycle:
The transactions of securities are settled within T+3 settlement cycle in electronic form. At the last day of the settlement cycle, the securities are credited into the demat account of the buyer resulting the immediate settlement cycle.
Immediate distribution of shares allotted in IPO:
The shares allotted in IPO can be easily and immediately credited in the demat account of investor held with CDSC. Hence, the investor does not have to wait to receive the share certificate from the issuers. This aids to list the securities immediately in the stock market.
Easy in portfolio management:
Investors receive the statement of their account periodically which helps them in managing portfolio and receiving the detail information about their investment.
Solve the problem of address change:
Investors do not have to inform their individual issuers about the change of address through correspondence separately. Investors can register the change through their DP only. DP updates and informs the change to all issuers of the securities held by an investor through the depository system.
Easy in pledge of securities:
In case, the dematerialized securities are pledged, such account can be locked in. While pledging the securities, the securities do not need to get transferred from the pledgor’s account to pledgee’s account.
DO all DPs have access to account details of all BOs of CDSC?
A DP does not have access to account details of BO of any other DP except that account only which it has rendered the depository services.
How to open a demat account?
The process of opening a demat account is very simple and easy. It is similar to opening a bank account. The process of opening a demat account is as follows:
Can all securities be dematerialized through a single demat account?
Yes. Any number of securities admitted with CDSC can be dematerialized and held in a single account in case securities are owned by a single investor.
Can there be possibility of mix up of securities of different companies held in a single demat account?
Different securities, even of the same issuer, are provided a distinct ISIN number as an identification of the securities and each ISIN is maintained and accounted separately within an account. Therefore, there is no question of mix up of securities held in one demat account.
Does BOs have to maintain any minimum balance of securities in their demat account?
A demat account can be opened and maintained even with zero balance.
How does BOs get information that the DP has updated their account after each transaction?
BOs get information about the update of their account after each transaction through the following means:
DDP provides a statement of transactions at end of every three months. BOs can get the updated information via a statement provided.
DWith the launch of easy (Electronic Access to Securities Information), BOs can get the updated information about their demat account at any point of time with the access of the internet.
What should BOs do if there are any discrepancies in the holdings of securities?
BOs should immediately contact their DP if there are any discrepancies in the holdings of securities. In case the problem is not solved by DP, BOs must approach directly to CDSC.
What should BOs do if the statements of their demat account is lost?
BOs have to immediately inform their DP about the statement loss and have to submit the application to provide the copy of lost statement.
Is dematerialization mandatory?
As mentioned in the Securities’ Central Depository Services Regulation, 2067, the issuers have to admit their securities with the depository and the BOs have to dematerialize their holdings for transacting in the capital market. Hence, dematerialization is mandatory.
What is the procedure for dematerialization?
Why do BOs have to open a demat account with the depository for transacting in the capital market?
BOs can enjoy the instant transfer of ownership if they have holdings in demat form. It minimizes the risk associated with the physical certificates. All listed companies in NEPSE must admit their securities with CDSC as well and the settlement of such securities are done in demat form. Hence, BOs must open a demat account for transacting in the capital market.
Is it compulsory to mention the ISIN while filling up the Demat Request Form (DRF)?
The ISIN should be mentioned correctly while filling up the DRF. In case, BOs do not know the ISIN, they can ascertain the same from their DP or through the website of CDSC.
Can any physical certificates be dematerialized against anybody’s name?
Any securities that are held in an individual’s ownership can only be converted in electronic form. Besides, those securities should be compulsorily registered for dematerialization with CDSC.
Can one have a part of one’s holdings in demat form and retain a part in the physical certificate form?
A BO can have the holdings both in demat form and in the physical certificate form upon his/her choice.
What should one do if one wants to dematerialize a security of a company that is not admitted with CDSC?
In such a case, a BO should request the company to have the security admitted with CDSC and only then dematerialize the security.
Can odd lot of shares be dematerialized?
Since, one share is the market lot in demat system, odd lots of shares can also be dematerialized.
Do dematerialized securities have distinct certificate number?
Dematerialized securities do not have any distinct number. In demat, all securities are fully fungible, which means that any 100 shares of a company are similar to any other 100 shares of that company.
How long will it take to complete the dematerialization process?
It will take 10 working days after the submission of application form along with physical certificates to complete the dematerialization process. If it is not completed within the prescribed time period, a BO has to consult with DP or CDSC.
Can electronic holdings be converted back in physical certificate?
The electronic holdings can be converted back in physical certificate through “Rematerialization” process.
Do BOs have to pay any charges for dematerialization and rematerialization of securities?
BOs do not have to pay any charge for dematerialization of securities. However, they have to pay charges as prescribed by the Bye Laws to DP for rematerialization of securities.
What is the procedure for transfer of holdings if the demat securities are transacted?
The selling procedure for demat securities is similar to the selling procedure for physical securities in the trading
floor of NEPSE. The process of transfer of demat holdings is more simple and easy compared to physical securities. A seller has to give an instruction to his/her DP to transfer the securities directly into the Clearing House or the Clearing Account of Stock Brokers once the selling information is received from the broker. The same procedure should be completed within T+3 working days.
Likewise, a buyer can give the standing instruction to the DP to credit his/her account in order to receive the purchased securities. Such instruction can be given at the time of opening demat account or after opening the demat account. Else, s/he can give the instruction for each transaction.
What is T+3?
T+3 signify the time period for the settlement of transactions traded in NEPSE. It denotes that settlement should be done within 3 working days of the transaction. The cycle of T+3 is as follows:
What are On-Market transaction and Off-Market transaction?
Any transaction involved in buying/selling of securities traded in NEPSE floor and transferred the ownership through the Clearing House is On-Market transaction. Any transaction traded between two BOs outside NEPSE floor and settled without the involvement of brokers and Clearing House is Off-Market transaction.
How is the settlement number indicated on the DIS?
Settlement number has 7 digits. The first 4 digits represent settlement year and the remaining 3 digits represent settlement number of the exchange on which the transaction has been executed.
What is client level pay-in? What are benefits of it?
The facility to deliver securities directly to the Clearing House from the demat account of investors is termed as client level pay-in.
Some of the benefits of client level pay-in are as follows:
- In the present market scenario of T+3 settlement cycle, the faster delivery of securities through client level pay-in can facilitate the speedy settlement process.
- Client level pay-in avoids the hassle of lengthy transfer procedure.
- Client level pay-in avoids the counter party risk associated with the delivery of securities through an intermediary.
Does CDSC provide client level pay-in service?
CDSC provides the facility of client level ‘normal’ and ‘early’ pay-in services for the settlement of transactions traded in NEPSE.
What is an Instruction Slip?
An instruction slip is the instruction given by BO, who has a demat account with CDSC; to debit the securities from their account. The BOID of each BO is pre-stamped on all the pages along with the serial number.
What precautions need to be observed by BOs with respect to Instruction Slips?
The following precautions need to be observed by BOs with respect to instruction slips:
- Ensure that DP issues Debit Instruction Slip (DIS) book.
- Ensure that instruction slip numbers are pre-printed on each DIS.
- Ensure that the demat account number is pre-stamped on each DIS.
- After the DIS has been filled, strike out remaining blank space to prevent misuse.
- Entire details to be furnished in DIS should be filled in properly.
- Issue separate DIS for different instructions such as On Market, Off Market, transfers etc.
- Retain the duplicate DIS, in which DP has acknowledged the receipt stamp; in safe custody.
- Keep the DIS book in proper custody when it is not in use. In case of loss/ misplacement of DIS, the same should be intimated to the DP immediately.
- One should never sign and keep a blank DIS.
- All the holders must confirm any alteration, correction or cancellation made on the DIS with their signatures.
What are the probable reasons for rejection of DRF (Demat Request Form)?
The probable reasons for rejection of DRF are as highlighted below:
- If the essential information are not filled in,
- If DRF is submitted to the wrong Issuers or RTA,
- If securities having different lock-in time are mixed up in same DRF,
- If wrong DRN (Demat Request Number) is mentioned.
Can securities in demat mode be pledged?
The demat securities can be pledged against the loan provided by banks and other financial institutions. Moreover, the procedure for pledging securities in demat form is very easy and convenient, both, for the pledgor (investor) and the pledgee (loan giving entity).
What is the procedure for pledging securities?
In the present scenario, both the pledgor and pledgee must have BO accounts with CDSC for pledging securities. The procedure for pledging securities are as follows:
How are the securities unpledged in the CDSC system?
The securities are unpledged in the CDSC system in the following way:
Can the securities pledged in banks be dematerialized?
The pledged securities can be dematerialized with the prior permission of the pledgee bank.
How is a pledge invoked?
In case of default by the pledgor, the pledgee can invoke the securities with the help of a DP after giving a formal notice to the pledgor. The procedures for invoke the pledged securities are as mentioned below:
Who receives corporate benefits on the pledged securities?
The pledgor remains the owner of the pledged securities. Therefore, the pledgor receives corporate benefits. However, such benefits are locked in the pledgor’s account.
What is a Corporate Action (CA)?
Corporate Action means closing registration book, date of annual general meeting, date for repayment of due securities, date for changing transferable debentures and rights, dividend, interest, bonus share, right share, preferential allotment, right issue and payment date, date for premium repayment as well as other activities performed by issuers from time to time. It is a process by which a company gives benefits to the investors who are holding securities of the company.
What is a corporate benefit?
The benefits provided to BOs from time to time by the issuer for securities owned by them like: bonus, interest, bonus shares, right shares, preferential allotment, rights, premium repayment or other benefits are known as corporate benefit.
Who disburses the cash corporate benefit?
The issuer / RTA directly disburse the cash corporate benefit to the BO. CDSC may provide the service that issuer/RTA can deposit the cash benefit directly to the bank account of BO.
Who disburses the non-cash corporate benefit?
CDSC disburses the non-cash corporate benefit to the demat account of BO.
What is an Initial Public Offering (IPO)?
The statement of proposal published by the body corporate to the general public for the increment of its additional capital is known as IPO.
What are the procedures for getting securities allotted through IPO in electronic form?
The procedures for getting securities allotted through IPO in electronic form are as follows:
Is there any specific way in which BOs are required to mention the details of their demat account numbers in the IPO form?
The IPO form has separate fields to be filled-in if BOs want to take the credit of allotted shares directly into their demat account.
If there is an error in writing the demat account number, will the IPO application be rejected?
If CDSC finds any error regarding demat account number mentioned in IPO application form at the time of checking, then it is requested to RTA for the correction of such error.
How do BOs come to know that the securities through IPO have been credited to their demat account?
BOs can verify the credit of the securities allotted to them in the following ways:
- The company would send BOs the “allotment advice” regarding the shares allotted to them to their demat account,
- From the statement of account provided by DP,
- Through CDSC’s internet facility “Electronic Access to Securities Information (easi)” if the BOs have subscribed for the same.
Is it possible to issue rights and bonus shares directly in demat account?
Rights and bonus shares can be credited directly to the demat account of BO.
Who provides the application form of rights issue?
As in the physical segment, the issuer/RTA itself provides the form of rights issue to BOs. CDSC and DP do not provide the same.
If any investor requests for credit of rights / bonus allotment in dematerialized form without having a demat account, will CDSC open an account on its own to provide credit?
In such case, the allotment of rights/bonus for such investor is issued in physical form only.
Is there any priority in allotment, if applied for issuance of securities in dematerialized form?
There is no any priority in allotment of securities, either applied in dematerialized form or in physical form. They are treated on par with the requests for allotment in physical and dematerialized form.
When will the allotted securities be credited in the demat account of BO?
The allotted securities will be credited to the demat account of BO on the effective date as prescribed by the issuer/RTA.
What is transmission of dematerialized securities?
Transmission is the process by which securities of deceased account holders are transferred to the account of their heirs / nominee. In case of physical securities, the legal heirs / nominee has to correspond independently with each company of portfolio of deceased, but in case of securities held in a demat account it can be easily and conveniently completed by submitting necessary documents to the DP for transmission.
How should the heirs/nominee of deceased BO claim the securities lying in the demat account?
The claimant should submit the completely filled-in Transmission Request Form (TRF) to the concerned DP along with the following supporting documents:
- Attested copy of death registration certificate,
- Attested copy of citizenship certificate of the deceased person,
- Attested copy of citizenship certificate of the heir,
- Attested copy of relationship certificate,
- Consent letter of other heirs.
If the application is found genuine, the DP shall check the validity of the application and send the transfer request of claimant.
How can a BO transfer the ownership of securities to the concerned heir in case of separation?
The claimant should submit the TRF to the DP along with the following supporting documents:
- Attested copy of citizenship certificate of receiver and giver,
- Attested copy of the deed registered in the Land Revenue Office (Malpot Office)
- Other necessary documents as required.
If the application is found genuine, the DP shall check the validity of the application and send the transfer request of claimant.
How can the ownership of securities be transferred in case of household transfer within the three generation of the same family?
In case of household transfer of securities within the three generation of the same family, the applicant shall submit the application to DP along with following supporting documents:
- Application of both transferor and transferee of the shares,
- Documents to prove family within three generation,
- Copy of citizenship certificate of both transferor and transferee of the shares,
- Original share certificates,
- Attested copy of relationship certificate between transferor and transferee of the shares.
If the application is found genuine, the DP shall check the validity of the application and send the transfer request of claimant.
How can the ownership be transferred in case of securities acquired from the order of the court?
In case of ownership transfer of securities acquired from the order of the court, the applicant shall submit the application of TRF along with following documents:
- Attested copy of the decision,
- Attested copy of citizenship of the receiver,
- Execution slips of the court.
If the application is found genuine, the DP shall check the validity of the application and send the transfer request of claimant.
In case of request for rematerialization, does one get back the same certificate that was dematerialized?
Issuer/RTA issues new certificates in BO’s name upon the request for rematerialization of dematerialized securities.
If the physical certificate issued on rematerialization has some mistake in the name or any other details, whom should the BO contact?
The BO should immediately contact to the concerned issuer/RTA in case of any errors with the new certificate issued.
Can securities be rematerialized in odd lots?
A BO can rematerialize the holdings even in odd lot.
Is it possible to rematerialize “lock-in” securities held in a demat account?
Lock-in securities in a demat account can be rematerialized. If a BO has free as well as lock-in securities in the demat account, then a separate RRF is to be submitted for rematerialization of free quantity and quantity under lock-in.
Dos & Don’ts
DO’S
- Register for CDSC’s internet based facility ‘Mero Share’ to monitor your demat account yourself. Contact your DP for details.
- Accept the DIS book from your DP only if each slip has been pre-printed with a serial number along with your demat account number and keep it in safe custody.
- Always mention the details like ISIN, number of securities accurately. In case of any queries, please contact your DP or broker.
- Ensure that all demat account holder(s) sign on the DIS.
- Please strike out the any blank space on the slip.
- Cancellations or corrections on the DIS should be initialed or signed by all the account holder(s).
- Submit the DIS ahead of the delivery date for all type of market transactions. DIS can be issued with a future execution date.
- Intimate any change of address or change in bank account details to your DP immediately.
- Before sending securities for demat, record the distinctive numbers of the securities sent.
- The demat account has a nomination facility and it is advisable to appoint a nominee, in case of sole account holders.
- Ensure that, both, your holding and transaction statements are received periodically as instructed to your DP. You are entitled to receive a transaction statement every month if you have any transactions and once a quarter if there has been no transactions in your account.
- Check your demat account statement on receipt. In case you notice any unauthorized debits or credits, contact your DP for clarification. If not resolved, you may contact CDSC’s Investor Relations Officer.
Dont’s
- Do not leave your instruction slip book with anyone else.
- Do not sign blank DIS as it is equivalent to a bearer cheque.
- Avoid over-writing, cancellations, misspellings, changing of the name and quantity of securities.
- We request you to meticulously follow the above instructions, to avoid any problem in operation of your demat account.
CASBA Manual C‐ASBA application is a centralized web application designed for primary market in Nepalese Securities Market. The application allows ASBA member banks to register customers and collect application from the investors applied for the IPO/RIGHTS/FPO issued by the companies. ASBA member banks can generate the reports for the application received in the system and provide the required upload able file to block the required amount of fund in their bank account of the respective customers. Bank users needs to follow the following steps to work on C‐ASBA application. User Registration (Bank Users) CDSC provides a master user for each of the C‐ASBA registered Banks. To login the system using master user provided by CDSC,
Master User can Edit, Delete, Block or Reset the password for the Central Admin Users. Central Admin users can create and manage their Branch Users and perform Amount Block/Release Operation.
To create Branch Users, login using Central Admin (Maker User) and create users as explained below.
Go to Bank Management Page and click on Create button.
Select required Branch for the user creation and fill up the required information
Select required profile for the branch users.
Remember that each branch needs to have at least one user for each profile
To modify users, go to Bank Management page and Click “Manage” Button.
Central Maker users can Edit, Delete, Block or Reset the password for Branch Users.
Once the branch users are created/Modified from central Maker Users, it needs to be approved by central Checker Users. For the approval process follow the steps as below: Login to the application using Central Checker User and go to Bank Management page.
If there are any pending user creation/modification task pending for approval, then click on Approve button.
There are multiple tabs available in the page with each type of transaction headings. Check for the requests received for each type of transactions. If the request is to be approved for User creation, a list of users with “CREATE PENDING” status as in the figure below will appear. Likewise, lists of user transaction to be approved for each task can be viewed in respective tab.
Click on the list for the approval of the transaction.
Check the details of the users, assigned profile, status, etc. before approving the transaction.
If the transaction is to be rejected due to some reason, click on reject button, a popup remarks will be displayed. Enter valid remarks and click on confirm button.
Customer Registration
Branch Maker needs to register the customer in C‐ASBA system to map Client’s BOID with their Bank Accounts. To register the customer in C‐ASBA follow the below steps: Login to the system using Branch Maker User.
Go to Customer Management Page.
Click on Register Button
Select the DP from the list as mentioned in C‐ASBA registration form and enter the client id. For example, if the customer with BOID: 13010200000XXXXX is to be registered, then select DP ID as NIBL Ace Capital (10200) and put last eight‐digit (000XXXXX) numbers of the BOID in the BOID Field.
Application will display KYC details as per the Demat Account available in CDSC database. Please verify these Details with the KYC details ofsame customer as per the Bank Account. If everything is matched enter the Bank Account number and CRN Number assigned for the Customer in the Account Information Section and Click on Register Button.
Once the Customer is registered by Branch Maker user, it needs to be approved by Checker user of same branch. To approve the customer registration request, login to the system using branch checker user and go to customer management page.
If there are any pending transaction for customer registration/ modification click on approve button.
A page with multiple transaction tab will open. All the pending transaction with each transaction type will be listed in the respective tabs. Click on the transaction list appeared in the page that needs to be approved and verify the details.
If every detail is acceptable then click on approve button to approve the client registration request.
Customer Registration data can be edited or blocked or deleted any time if needed. To edit/block or delete the customer registration data, follow the following step.
Login to the application using branch maker users and go to customer management page.
Click on Manage button and select the Customer to be managed. Customer can be searched using their name or account number or BOID by clicking on the search icon.
Once the edit/delete/block request is setup by maker user, it needs to be approved by checker user.
To approve the transaction login to the system by checker user and go to customer management page. Click on Approve button and go to the respective tab for which transaction the approval is needed.
To reject the transaction user needs to provide remarks.
Application Collection for the public Issue
If any company issues their shares through public issue process, the registered customer will submit the application to apply for the issue. If any registered customer submits the physical application form to the bank branch, the user needs to make an entry for the application. To apply for the issue, follow the below steps:
Login to the system using branch maker user.
Go to the “Issued Companies Management” page.
Click on “Opened Issued Companies” tab.
From the list of Opened Issued Companies, select the correct company and click on Apply Button as displayed in below figure.
Select the DP of the customer as provided in the application form and enter the last 8 digits of the BOID in the BOID field as in the Figure below. Click on the search button.
Enter the application details as mentioned in the application form and save the application.
All the application entry made by branch maker needs to be approved by checker every day before the Central Checker initiates the Amount Block process. To Approve the application entry made by branch maker follow the below steps:
Login to the system using same branch checker user.
Go to “Issued Companies Management” page.
For each Opened Issued Companies, there are 3 buttons. 1st one is for Approval of Delete Request, 2nd is for checking the application report and the last one is for approving the application entered by maker user of the same branch.
Click on the 3rd button.
List of application entered by the maker user that needs to be approved will be listed as in the below figure. Checker users can either approve the application individually or in the batch.
To approve application, click on the check box in the first column. To select all the application listed in the window, click on the check box available in the top of the list. Click on the Approve button to approve the application. If the application needs to be rejected due to mistake entry made by maker users, it can be rejected by clicking on reject button. Amount Block for the received Application
Bank’s Central Admin User needs to block the amount as per the application received in the system every day. To block amount as per the application received, follow the below steps.
Login to the application using Central Admin (Checker) user and go to “Issued Companies Management” page.
From the list of issued companies available in both tabs (Opened Issued Companies & Closed Issued Companies) click on the Action button (Generate Amount Block File) as in the below example.
Click on Generate button as displayed in the figure below:
Once the file is generated download the file as per the required format (General/Flex).
Upload the file to the CBS System and generate the response report.
Once the amount is blocked as per the application report, upload the response report to the application. To upload the response file, follow the below steps.
Go to the same page where the block amount file was generated.
Click on Upload button as shown in the below figure.
Click on the upload button available in the page.
Rename the upload file as mentioned and select the file and upload it.
Check the summary information displayed in the page (Total Number of Application, Total Verified Application, Total Rejected Application).
If the information is correct, click on the proceed button.
Amount block report confirmation report uploaded successfully. Amount Release for Allotted Application
Once the allotment process is complete, Central Admin User (Checker) needs to Release/Debit the Blocked amount from the Customer’s bank Account.
To Release/Debit Amount from the customer’s bank account follow the below steps:
Login to the C‐ASBA application using central checker user and go to Issued Companies Management Page.
Go to Closed Issued Companies tab as in the figure shown below:
Select the Company with the status “Allotted” and click on “Generate Amount Release File” Button.
Click on the Generate Button to generate amount release file.
Once the file is generated, download the file and upload to the CBS System to release/Debit the amount. To download the file, click on download button.
Once the file is uploaded to the CBS system and amount is released/Debited as per the report, generate the response report as per the prescribed format and upload the same to the C‐ASBA System.
To upload the file, click on the upload button as in the figure below.
Select the file generated from CBS system through the list and Click on Upload button.
Check the summary report as in figure below after uploading the file.
Click on Proceed button if everything seems ok.
