who transfers securities between accounts on the instructions of the account holder?
Answers
Explanation:
The two depositories of India that are authorised to hold the shares of the account holders are National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). The mode of transfer of the shares is dependent on the depository with which your broker is associated
In case of the manual transfer of shares from one Demat account to another, it is important to be aware of certain specifications. Firstly, it is important to know that the shares being transferred are maintained and held in depository systems. The two depositories of India that are authorised to hold the shares of the account holders are National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL).
The mode of transfer of the shares is dependent on the depository with which your broker is associated. If the account holder’s existing and new brokers are both associated with the same depository, there will be an intra-depository transfer (or an off-market Transfer) of shares. If, however, the existing and new brokers are associated with different depositories, there will be an inter-depository transfer of the shares.
When an intra-depository transfer or an off-market transfer is being made, the account holder must use a Debit Instruction Slip or a DIS booklet that is provided by their Depository Participant (DP)