A depository can be compared to a bank. A depository holds securities (such as shares, debentures, bonds, government securities, units, etc.) belonging to investors in electronic form. In addition to holding securities, a depository also provides services related to transactions in securities.
- Invest Link
- Stock Smart Depository
- Mutual Fund Distribution
Stock Smart Depository
Most of the security-related transactions in the Indian capital market have been shifted to the dematerialised form. Consequently, it is necessary for investors to maintain depository accounts in India.
ADCB India offers the following services to its clients:
- Dematerialisation i.e. converting physical certificates to electronic format
- Rematerialisation i.e. conversion of securities in demat form into physical certificates
- Facilitating repurchase/redemption of units of mutual funds
- Electronic settlement of trades in stock exchanges connected to NSDL
- Pledging/hypothecation of dematerialised securities against loans
- Electronic credit of securities allotted in public issues and rights issues
- Receipt of non-cash corporate benefits, such as bonuses, in electronic form
- Freezing of demat accounts, so that debits from the account are not permitted
- Nomination facility for demat accounts
- Services related to change of address
- Completing transmission of securities
- Account monitoring facility via the Internet (IDeAS)
- Other facilities including the holding of debt instruments in the same account.
The benefits of an ADCB India depository account are as follows:
- Immediate transfer of securities
- No stamp duty on the transfer of securities
- Elimination of risks associated with loss, forged transfer, bad delivery and fake certificates
- Reduction in paperwork involved in the transfer of securities
- Reduction in transaction costs
- Nomination facilities
- Easy and fast recording of change of address and avoids multiple correspondence
- Easy and cost-effective transmission of securities
- Convenient methods of consolidation of folios and accounts
- You only need to maintain one account for equity and debt instruments.
The following types of accounts may be opened:
- Individual in sole name
- Individual in joint names
- Companies
- Trusts
Some of the important features of depository accounts are as follows:
- More than one depository account can be opened in the same name or with joint names
- A minimum balance is not required
- One-time standing instructions are available for receiving credits to the account(s).
The procedure for opening a depository account is:
- Fill in and sign the prescribed account opening form
- Submit all the required documents
- Execution of required agreement
- To open an account click here
FAQs
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What is a depository?
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What should I do when I want to open an account with ADCB India?
You can approach any branch of ADCB and fill in an account opening form. At the time of opening the account, you have to sign an agreement with ADCB in an NSDL approved format, which details your rights and duties as a depository participant. You have to submit the following documents along with the relevant account opening form. If you wish to open your account jointly with another person(s), the following should be submitted for all the account holders.
Copy of any one of the following Proofs of Identity (POI)
- Passport
- Voter ID card
- Driving licence
- PAN card with photograph
- Identity card/document with applicant’s photo, issued by a) central/state government and its departments, b) statutory/regulatory authorities, c) public sector undertakings, d) scheduled commercial banks, e) public financial institutions, f) colleges affiliated to universities (this can be treated as valid only while the applicant is a student), g) professional bodies such as ICAI, ICWAI, ICSI, Bar Council etc., and h) credit cards/debit cards issued by banks.
Copy of any one of the following Proofs of Address (POA)
- Ration card
- Passport
- Voter ID card
- Driving licence
- Bank passbook
- Verified copies of electricity bills (not more than two months old); residential telephone bills (not more than two months old); leave and licence agreement; agreement for sale
- Self-declaration by High Court and Supreme Court judges giving the new address in respect of their own accounts
- Identity card/document with address, issued by a) central/state government and its departments, b) statutory/regulatory authorities, c) public sector undertakings, d) scheduled commercial banks, e) public financial institutions, f) colleges affiliated to universities (this can be treated as valid only while the applicant is a student); and g) professional bodies such as ICAI, ICWAI, Bar Council etc., to their members.
Passport photograph
Copy of PAN card
You must remember to take original documents to ADCB for verification. ADCB will carry out “in-person verification” of account holder(s) at the time of opening the account. You should remember to obtain a copy of the agreement and schedule of charges for your future reference.
Note : ADCB may ask for additional proof of identity/address.
Rates, fees and charges, wherever applicable, are subject to change without prior notice. The latest schedule of fees is available upon request at our branches in India and is also available here
For further details, please click here.
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