Brokerages have begun handing out free demat and broking accounts in their bid to encourage equity investments among retail investors. Best & worst stocks of ’08 Though such a generous marketing idea increases the burden on account books of brokers by about Rs 300 per fresh account opened, it will go a long way to [...]

Introduction NSDL has launched SMS Alert facility for demat account holders whereby investors can receive alerts for debits (transfers) to their demat accounts, credits for IPO and offer for sale allotment, sub-division and bonus. Alerts are also sent in case the instructions given by investors for debiting their demat accounts fail due to insufficient balance. [...]

As directed by SEBI, Depositories had issued directions to Participants making Permanent Account Number (PAN) compulsory for all categories of demat account-holders including minor, trust, foreign corporate body, banks, corporate, FIIs and NRIs. This came into effect in respect of all demat accounts that were opened on or after April 1, 2006. Further, from January [...]

When India’s Oil and Natural Gas Corporation pulled off its most successful overseas deal on last week of August, the takeover of UK-listed Imperial Energy whose assets were mainly in Russia, Economic Times business daily wrote light-heartedly that it was a return to the “Great Game”. The analogy was appropriate but for one crucial omission [...]

NSDL which is a securities depository holding more than 80% of the dematerialised securities in India has established a Central Recordkeeping Agency (CRA) for the New Pension System (NPS) on behalf of the Pension Fund Regulatory and Development Authority (PFRDA). Honourable Union Finance Minister Shri P. Chidambaram launched this system today, August 29, 2008 in [...]

Reaching untouched heights step by step, inflation has again jumped a big step to 11.05 per cent for the week ending on June 7 after an 8.75 per cent in the preceding week. Fuel price rise announced on June 4 pushed the inflation rate to this 13-year high level. Earlier, a high inflation of 11.11 [...]

Japan Securities Depository Center, Inc. (JASDEC) of Tokyo has signed a Memorandum of Understanding (MOU) with National Securities Depository Limited (NSDL), designed to build a cooperative relationship. Under the terms of the MOU, JASDEC and NSDL will establish a mechanism, whereby board members, senior management and staff of both sides could meet on a regular [...]

To ensure faster access to its customers, two state-owned banks—State Bank of India and Union Bank of India—are planning to launch mobile banking services by June end. Other full-banking services that will be offered include account-to-account money transfer, mobile payments, and account-status enquiry.   UBI join hands with Emkay Union Bank of India has signed a [...]

Japan Securities Depository Center, Inc. (JASDEC) of Tokyo has signed a Memorandum of Understanding (MOU) with National Securities Depository Limited (NSDL), designed to build a cooperative relationship. Under the terms of the MOU, JASDEC and NSDL will establish a mechanism, whereby board members, senior management and staff of both sides could meet on a regular [...]

For all types of transactions in the financial market, permanent account number (PAN) would henceforth be mandatory. On Friday, finance minister P Chidambaram said that this would be applicable subject to suitable threshold exemption limits. However, the PAN card is already mandatory if you need to invest in a mutual fund or set up a [...]