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SHCIL Processes The Entire Paperwork Required 1
SHCIL Processes The Entire Paperwork Required 1
bank.
• The service is available at any of over 100 branches of
SHCIL.
ADVANTAGES
•
Our tie ups with banks give you a wider range of banks to choose from. This leads to
a wider range of specified and non-specified shares to get loan against.
•
The add shares team helps you with the paper formalities
precedent to a loan.
•
You can now get a loan at a competitive interest rates and margins. This is a
resultant of their tie up with a wide range of banks.
•
Choose one or more brokers from a list of 77 brokers empanelled with SHCIL.
Registration with broker is not necessary if you are already registered under any of
our other product schemes.
• Purchase on BSE or NSE.
ADVANTAGES
•
Buy shares with a single instruction and get an assured credit of shares into your
account the next day of payout. Leave the settlement procedures and broker
interaction to us.
• Affect a faster turnaround of your portfolio.
Your request will be good till the end of the day. If the shares are not purchased
before the end of the day your request lapses and a fresh request can be submitted
the next day.
•
The broker executes the trade and confirms trade details to SHCIL. The payment for
the shares purchased along with the service charge is made from the purchase
advance account.
•
The shares get credited into your account the next day of
payout
TARIFF
On Delivery Basis
• 0.65% on the value of transaction on delivery basis with a
minimum of Rs. 65 per client per broker settlement.
(C) FUND INVEST
INTRODUCTION
Fund invest is a basket of financial products ranging from fixed income securities
like fixed deposits, infrastructure bonds and capital gain bonds to variable income
securities like initial public offers (IPOs) of equities and mutual funds. It is an attempt
to offer financial products that that cater to the various investment needs of our
esteemed clients. An effort to guide the investor to a product portfolio that best suits
his risk-return profile. Applications for investments can be sourced from any of the
SHCIL offices. Apart from guiding our investors to pick up the right combination of
investment instruments we help them in ‘after-sales’ service by acting as an
interlocutor between the investor and the issuer of the securities. SHCIL is an AMFI
registered mutual fund advisor (ARMFA).
FEATURES
Tax benefits
Transferability
Nomination
Repayment
Premature encashment
limit.
Payable half yearly on 1st Feb.,
1st
Aug or cumulative on
maturity.
Interest is taxable under IT Act, 1961. Exempt from wealth tax under Wealth Tax
Act, 1957.
Non- transferable, non tradable
and
cannot
be
used
as
collateral for borrowings.
Available. Only sole holder or
the
surviving
holder
can
nominate.
Repayable on expiry of 6 years from date of issue. No interest would accrue after
maturity.
Not available.
ADVANTAGES
Hassle free maintenance: the GOI bonds held in electronic form in an account called
bond ledger account. This ensures smooth investing minus paperwork.
•
Electronic clearing services: you can avail of electronic clearing system (ECS)
services. This ensures automatic credit of benefits and redemptions when they
accrue.
•
A fundamental principle of insurance is to put you in the same financial position after
a loss or accident that you enjoyed before the loss. This is relatively easy with repair
or replacement of (say) a car, but is much more difficult with the loss of life. The
insurance policy is a contract and like any contract contains clauses and conditions.
Claims are settled in accordance with the conditions detailed in the policy.
FEATURES
• A single instruction enables you to combine your trading,
fund and shares transfer with SHCIL taking care of the
settlement.
•
PROCEDURE
•
If you already have a DEMAT account with us, fill up a conversion form to convert
your DEMAT account to stock direct. If you do not have a DEMAT account, fill up a
DEMAT account opening form and submit it at any of our branches.
•
Register with any of our empanelled brokers by filling up the broker registration form
and submit it along with the account opening/conversion form.
•
Open account with SHCIL, a running account called the purchase advance by
remitting an initial advance of Rs. 1000 by way of Cheque /DD.
TARIFF
Brokerage
0.50% with a minimum of Rs.50 per client per broker per
settlement*.
Normal ISA charges applicable as per client’s tariff scheme.
Service tax applicable as per GOI notifications.
Media charges (one time): Rs.100 + Service tax.
(G) PENSION FUNDS
INTR ODUCTION
SHCIL offers pension fund administration services to pension fund trusts. The
pension fund scheme administered by the trust could be a defined benefit or a
defined contribution scheme. For both the scheme types, SHCIL offers the entire
range of services that
• Customized pension fund administration software to meet
the unique features of the pension scheme.
• Records of members maintained in electronic form to enable
quick access and retrieval of data.
•
Benefit from SHCIL’s vast and rich experience in providing back office services to
the financial services industry as a whole and in the area of pension administration
in a particular.
•
‘Delivery instruction by client’ booklet allotted to your DEMAT account. This booklet
helps you transfer shares from your account to broker account and other accounts.
•
As per the latest NSDL guidelines, client may give local address or correspondence
address, depending on his preference to receive the communications from the
companies.
•
Complete address of the bank branch, bank account number, account type and 9
digit MICR number is mandatory. Please provide the specimen copy of a Cheque for
noting the correct 9 digit MICR code.
• At the time of account opening, clients are requested to
provide the proofs for identification and address. The list
may be provided.
•
The power of attorney should either contain a clause which gives power to sell or to
deal with securities generally or a clause which gives power to operate depository
account. NSDL has provided a sample clause in its circular number:
NSDL/PI/2000/982 dated June 23, 2000. The sample clause is as follows:
“To sell or otherwise deal with or dispose-off and to purchase, subscribe or
otherwise acquire in any manner from the market or under public or rights issue or
otherwise and accept the transfers of any stock, funds, shares, debentures,
government and other promissory notes, securities, bonds, annuities or other
mercantile negotiable instruments which shall or may at any time belong to me or
which hereafter be transferred to me, whether solely or jointly and whether in my
own right or having any other interest of whatsoever nature and however arising and
in any capacity whatsoever including those belonging to others with my name and
for such purposes to sign, execute or endorse all instruments of transfer and other
documents for any purpose whatsoever by virtue of these present”.
NOMINATION FOR DP ACCOUNTS – INDIVIDUAL(S)
BENEFICIARY ACCOUNTS
•
As per the instructions received from the depositories, we can take cognizance of
nomination only if it is submitted in the prescribed format and the same ahs to be
registered with the depository participant (DP) under a ‘nomination registration
number’ (NRN). In the absence of NRN, DP will
not be able to transmit the securities in favor of the nominee only if it is registered
and after duly submitting the prescribed documents.
•
If nomination has not been registered, account holders may submit the nomination
form in the prescribed format to the nearest SHCIL center. On registration of the
nomination, the NRN will be communicated to the account holder(s). In case
nomination is not registered, securities can be transmitted to legal documents as per
depository guidelines.
MAINTENANCE
Change in Permanent/Correspondence Address
•
A request letter (format available on the site) signed by all the holders are required
along with this photocopy of proof of identification and proof of new address is
required. Please bring the originals with you for verification purpose. Client or the
authorized bearer can visit our branch for the same. Copy of the last transaction
statement received from SHCIL is also required.
•
Change in Signature
•
Request letter (format available) signed by the client. The new signature to be
attested by the bank. The request may be submitted along with the copy of POI and
the photocopy of the latest transaction statement received from SHCIL.
Addition of P AN /MAPIN
•
For the occasional delivery and receipt of securities in the physical mode, SHCIL
ensures prompt scrutiny, processing and lodgment of securities with the respective
company/ registrar and transfer agent, with the objective of final transfer to the
purchaser, with objections handling if needed. SHCIL also ensures that delivery of
physical securities to exchanges is handled strictly as per exchange regulations.
PHYSICAL CUSTODY (VAULT) SERVICES
When the company gives you credit, these shares will reflect under ‘free’ column.
Now you can sell these shares. In case the company is not satisfied with the details
furnished, it will reject the shares.
•
If your shares have been rejected by the company, SHCIL will forward the shares to
you on receiving them from the company.
(4) PLEDGE
You can pledge or hypothecate your dematerialized shares against loan or credit
facilities extended by a pledgee who also has an account with a DP.
The Pledge Procedure
•
If the form is complete in all respects, the DP processes the form and generates a
pledge/hypothecation instruction number for the request.
•
Securities to the extent of the instruction are debited from free or locked-in balances
and credited as pledged balances of the Pledgor so that they cannot be used for any
transactions.
•
If the pledgee accepts the request by the pledgor, the acceptance is communicated
electronically to the pledgor’s DP. Once the pledge’s DP confirms the acceptance of
the pledge, the pledgor cannot cancel the pledge/hypothecation order. The
pledgee’s DP executes the pledge/hypothecation request as per the instructions
given