November 2006 - NSDL

4Demat-by-NSDL ... Towards a secure future!!!Nest Update November, 2006Visit our website at www.nsdl.co.inNewsSubscription to IDeASThe following Depository Participant (DP) has subscribed to the IDeAS facility of NSDL in the month of October 2006:• State Bank Of Bikaner & JaipurThis takes the total number of DPs who have subscribed to IDeAS to 124. This is inclusive of 67 DPs who have subscribed toSPEED-e.Eastern Financiers Limited joins NSDL as DPEastern Financiers Limited has been made operational as a DP on October 20, 2006. It will conduct its depository operationsfrom Kolkata. The DP Id allotted is IN303181.This takes the total number of operational DPs to 233 and the total number of operational DPM set-ups to 309.Closure of Apeejay Securities Private Limited DP OperationsApeejay Securities Private Limited (ASPL) (DP Id IN302308), a Depository Participant of NSDL has informed NSDL that itintends to close down its depository operations.Clients of ASPL are requested to get their securities transferred to the account opened with any other DP or get themrematerialized.New feature in IDeAS - viewing of transactionsNSDL offers an internet based facility called IDeAS (Internet-based Demat Account Statement) throughhttps://speed-e.nsdl.com. IDeAS at present enables Clients (Beneficial owners) to view the latest balances and transactionsthat have taken place in the last five days, in their depository accounts. Clients will now be able to view the transactions for aperiod of past 30 days. Clients can select the period upto 30 days from the current date, to view the transactions.IDeAS also features the facility of download of digitally signed monthly transaction statements for a period of 12 months.This has been informed to DPs vide Circular No. NSDL/POLICY/2006/0045 dated October 5, 2006.Training Programme for Compliance Officers of DPsNSDL conducted a training programme in Mumbai for compliance officers of DPs. Areas covered during the training programmeswere compliance requirements, inspection and internal audit. The programme was conducted in Mumbai on November 3, 2006,which was attended by 30 persons of 21 DPs.SEBI circular providing clarification on Permanent Account Number (PAN) for NRIs/ PIOs / foreign nationalsSEBI has vide its circular no. MRD/DoP/Dep/SE/Cir-17/06 dated October 27, 2006 issued certain clarifications on PAN forNon-Resident Indians (NRIs)/ Persons of Indian Origin (PIOs)/ foreign nationals, extracts of which are as under:“1. This has reference to SEBI Circulars No. MRD/DoP/Dep/Cir-09/06 dated July 20, 2006 and MRD/DoP/Dep/SE/Cir-13/06 dated September 26, 2006 offering clarifications pertaining to complying with the mandatory requirement of PANfor operating Beneficiary Owner (BO) Account as well as trading in the cash market.2. Pursuant to the representations received from Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs), SEBI videpara No.4.3 of the circular dated July 20, 2006 enabled such NRIs/PIOs who are not able to obtain PAN for one reasonor the other but are holding securities in physical form and desire to sell the same, to open a "limited purpose BO account"without PAN, subject to certain conditions specified therein. The same was also extended for trading in cash market forsuch NRIs/PIOs vide circular dated September 26, 2006. Further, SEBI had also taken up the matter with CBDT videletter dated July 31, 2006 requesting CBDT to address the concerns of NRIs in this regard.3. The Directorate of Income Tax (Systems) vide PAN Circular No. 4 dated October 11, 2006 has now issued guidelines toits service providers (M/s UTITSL & NSDL) facilitating the citizens of India residing outside India, foreign citizens and