This is an electronic account that holds your shares and manages the process of transferring shares that are traded. CDSC stands for Central Depository and Settlement Corporation the entity that facilitates holdings of shares in electronic accounts opened by shareholders. An investor can open a CDS Account through a stockbroker, Investment Bank or Custodian (Equity Bank) authorized by CDSC to open CDS accounts on behalf of customers.
Features of CDSC Account
It allows immediate transfer of shares upon purchase or sale.
There is no paperwork involved during the transfer of shares from a buyer to seller.
Account automation eliminates risks of forgery, damage to the document, clerical errors etc.
An investors shares are held in one account making it easy for management.
An investor can receive an electronic statement of his/her account holdings.
Requirements
ID/Passport for the Directors, passport size photos.
A fully executed and signed CDS 1 form.
Certificate of Incorporation/Registration.
Board Resolution.
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