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Online D-mat Statement at Rs 50 annual charge

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Online D-mat Statement at Rs 50 annual charge
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March 6: The D-mat account holders can now get their account statement online at Rs 50 annual charge from CDS and Clearing Limited (CDSC).

Service seekers will be getting the facility with the second amendment of Securities Central Depository Service Regulation- 2073 done by CDS with an approval of the Securities Board of Nepal (SEBON).

CDS has requested for the support needed to implement the amended regulation by issuing a public notice. “The amended regulation has already come into effect from January 28, therefore, all stakeholders are requested to cooperate in order to implement the regulation,” said CDS.

According to the regulation, the Dmat account holders must submit an application at CDS and Clearing Ltd, Putalisadak to view their account statement through online. The account holders must provide an account number they hold in ‘A’ listed commercial banks.

According to the CDSC, once a depository member pays 50 per cent of the charge to CDSC, the D-mat account holder may get the service.

“The mechanism is formulated to provide easy services to general stakeholders,” said Dev Prakash Gupta, CEO of CDSC.

Earlier, Dmat account holders needed face difficulty in getting information on the details of their share trading. “Now onwards, they will be able to get the information through online,” he said.

 “Although the regulation mentions of submitting the account number of ‘A’ listed financial institution, gradually, other financial institutions will also be included as per the demand of market,” he added.

The amended regulation has made arrangement to deposit rights and bonus shares directly to the D-mat account of the shareholders.

Similarly, it has directed the Issue Managers to obtain D-mat account number along with personal information of the applicants in IPO issuance in order to issue primary shares in the dematerialized form.

 

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