SMS alerts for cricket scores, movie tickets, salary credit and now even share transactions. NSDL, the country’s largest depository, has launched a new service for small investors, through which SMS alerts will be sent out on shares that are debited from their demat account. The scheme is only for small investors and not daily traders. SMSs will be sent out for only upto five ISINS or debits in a day.

Jayesh Sule, Executive Vice President, NSDL, said, “The SMS will carry the scrip name and the number of shares that are debited.”

The service is free of charge and SMSs will reach investors next morning after they have transacted. Interested investors have to provide DPS with their mobile numbers to avail the facility. The service will be given by all 250 NSDL DPS by September.

The facility will go a long way in reducing broker-client disputes on whether or not the right number of shares were debited. It will enhance transparency and build investor confidence.

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