NATIONAL SECURITIES DEPOSITORY LIMITED - NSDL

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PREFACEThe Depositories Act 1996, SEBI (Depositories and Participants) Regulations, 1996,the Bye Laws of NSDL, Business Rules of NSDL, Circulars issued by NSDL etc.require the Depository Participants (DPs) to comply with certain proceduresrelating to functions in depository system. This manual is a compilation of relevantsections of The Depositories Act, 1996, SEBI (Depositories and Participants)Regulations, 1996, Bye Laws, Business Rules and circulars issued by NSDL (upto30.06.2010) arranged topic wise. A further segregation is made at sub-topiclevel wherever possible for the convenience of the readers.A subject wise index based on circulars is given separately to facilitate directaccess to the circulars. Additional space is provided at the end of each topic/sub-topic for manually updating the details of circulars issued after 30.06.2010.As per Bye Law 6.2.1 (vi), the depository may make it mandatory for a DP toappoint a Compliance Officer who shall interact with the depository on behalf ofthe DP for compliance with the Bye Laws and Business Rules. This manual will beparticularly useful for the compliance officers of the DPs.We request the readers to send to us feedback on the usefulness of this manualand enhancement/improvement suggested in future editions of this manual.❏ ❏ ❏[ i ]
DISCLAIMERThis Manual provides information solely as a reference guide and is meant tosupplement the efforts of the Compliance Officer in carrying out his/her dutiesas a Compliance Officer. While every effort has been made to compile variousrelevant statues, this manual is not meant to be a substitute to the provisions ofThe Depositories Act 1996, SEBI (Depositories and Participants) Regulations, 1996,the Bye Laws of NSDL, Business Rules of NSDL and Circulars issued by NSDL. NSDLdoes not hold out that this compliance manual is exhaustive. Compliance Officersare advised to study original source for the sake of completeness on any compliancerelated matters.This Manual includes circulars issued by NSDL up to 30.06.2010. ComplianceOfficers should refer the circulars issued after that date to update themselves.The titles given in the manual are meant to draw attention of the reader anddoes not purport to summarize the contents of the circulars. Compliance Officersare advised to study the circulars thereof.❏ ❏ ❏[ ii ]
Page 1: NATIONAL SECURITIES DEPOSITORY LIMI
Page 5 and 6: CIRCULARS INDEXSubject Date(s) Page
Page 7 and 8: Subject Date(s) Page No.INSTRUCTION
Page 9 and 10: Subject Date(s) Page No.September 2
Page 11 and 12: Subject Date(s) Page No.DP SERVICE
Page 13 and 14: Subject Date(s) Page No.November 14
Page 15 and 16: Low End DPM System - Recommended ha
Page 17 and 18: General ManagerMarket Intermediarie
Page 19 and 20: Name and Address of NomineeName: ..
Page 21 and 22: (II) Guidelines in respect of accou
Page 23 and 24: (a) Proof of Identity (POI):I. Pass
Page 25 and 26: documents which can be accepted as
Page 27 and 28: are not immovable property. Section
Page 29 and 30: S. No. ProcedureReference Remark(ix
Page 31 and 32: (b) If the NRI has never purchased
Page 33 and 34: appropriate option as given below:(
Page 35 and 36: (iii) Client should visit the Parti
Page 37 and 38: Participants should open the deposi
Page 39 and 40: (c) Participant should collect Proo
Page 41 and 42: (B)Trust Act, 1950 or The Indian So
Page 43 and 44: Participants for receiving securiti
Page 45 and 46: (b)(c)(d)Following documents are re
Page 47 and 48: Dear Sir,Sub: Shifting of Clearing
Page 49 and 50: eg. : - In case of joint holdings i
Page 51 and 52: 28 Body Corporate Central Governmen
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Participants are advised to capture
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Account opening - Bank account deta
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Account opening Forms and New Featu
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Address Line 4For more information,
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dematerialized mode. The procedure
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Council Resolutions / EU Common Pos
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Reason codeDescription1 Allotment o
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Dear Sirs,Sub: Mandatory requiremen
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egister the request and the checker
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convenience upto 15 days, by login
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3.3 to collect copies of PAN cards
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Sr. No Activities executed by the R
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(ii) Update the PAN field and enabl
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6. The Stock Exchanges are advised
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4.6. In case of HUF, Association of
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NSDL’s operating guidelines:(a)(b
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No further guidelines in this regar
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AnnexureGENERAL MANAGERMARKET REGUL
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5. The Depositories are advised to:
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c. Power of AttorneyAccount operati
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of the trade for online disseminati
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Annexure IIDP DP ID Client NSDL NSD
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NOTES[ 82 ]
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Facility for Cancellation of Pendin
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of account (enclosed) issued by you
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gram respectively. The purity grade
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(b) Participants are required to ex
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Circular No:Sub: Facility for cance
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Demat request - POA holdersCircular
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Demat request - due carepending cou
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instruction expeditiously. After th
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mode, to decrease the time period i
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NOTES[ 102 ]
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Rule 4.5.2Rule 6.1Rule 12.2.1Rule 1
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Participants can use either the old
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(d)In case any DIS is presented for
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Client, before uploading/executing
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Participants must take note of the
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5. The pre-printed serial number of
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(a) Participants shall accept instr
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(I) Issuance of DISThe procedure fo
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(g)balances existing in the CM Pool
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Instructions - GuidelinesCircular N
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Pool Account. In case of insufficie
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6. Participants must ensure through
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Instructions - Serial number valida
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into hardship. The process would al
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1. The tenure of contracts in SLB m
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Circular No :Sub : Operationalisati
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The salient features of the SLBS ar
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Margins and Collaterals All transac
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VaR Margin and ELM Margin:• VaR m
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hereinafter referred to as 'Partici
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Pay-out of securities/funds of reve
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orders in the SLBS, Participants ma
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2.2 Reverse Leg transactionsOnly th
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2.9 Custodial transactionsIn respec
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Annexure AFile formats for ‘Auto-
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N000001 CM_USER 4 28052010115649722
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(iv) Upon receipt of the request fr
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For more information / clarificatio
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Line Number Integer 5 14 MTransacti
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Internet Transaction Id Integer 15
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Transaction Flag Character 1 18 M I
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ISIN Character 12 190 MQuantity Dec
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Detail Record (934 CM pool to pool)
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Client Id Integer 8 178 MISIN Chara
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Change Orders for the Day (COD)Desc
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Annexure ASalient features of the f
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Order Status Character 2 46Rejectio
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Order Status integer 2 32 MInstruct
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Circular No :Sub: Facility of Inter
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CMs about the new file formats. Eve
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SPEED-eAdmission fee Rs. 2,00,000Pa
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In view of the above, Participants
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in our aforesaid circular will be a
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DPs who have subscribed to SPEED-e
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Auto Corporate Action for redemptio
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NOTES[ 194 ]
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Rule 12.6.2(i) Annexure 'OC' - Form
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12.6.3.3. A nomination, substitutio
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Rule 12.6.5a) Request for transmiss
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3. Obtain the PAN details of the no
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NOTES[ 204 ]
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Transaction Statements to clients t
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NOW THEREFORE in consideration of t
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Internet-based Demat Account Statem
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d) After successful entry of the ab
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d) After the account holder has suc
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E-token* based UserBO Only IDeAS NI
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days, in their depository accounts.
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Transaction Statement - Controls on
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Providing Statement of transaction
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4. The Participant informs such cli
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Debit of Mutual Fund Units“______
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ChargesNo charge is levied by NSDL
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the CSPs and other service provider
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The revised details of this facilit
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NOTES[ 234 ]
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Alteration in Memorandum of Associa
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Sr. No. Particulars Reference Deadl
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Mobile numberEmail Address of alter
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Sr.No.Particulars Reference Deadlin
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(e) Prevention of Money Laundering
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Notes:1. Details of item mentioned
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1. Objectives of auditFollowing are
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ChecklistSrl.No.Audit AreasAuditor'
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Srl.No.Audit Areas4.1.4 Whether iss
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Srl.No.Audit AreasAuditor'sObservat
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Page 273 and 274:
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Annexure 1A. Objectives of internal
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) Circular No. NSDL/POLICY/2007/001
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k) Circular No. NSDL/POLICY/2008/00
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e) Circular No. NSDL/PI/2004/1514 d
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ecorded in the report. (Circular No
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0021 dated June 24, 2006 regarding
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Circular No.NSDL/PI/2000/515Date :
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Nature of No of No of No of Manner
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Circular No. With reference to our
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NOTES[ 278 ]
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Dear Sir / Madam,Sub: Disclosure of
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Report 1B: Redressal of Complaints
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Report 2A: Details of Arbitration P
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Report 3A: Penal Actions against De
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Report 4A: Redressal of Complaints
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TypeType II aI bI cI dI eType IIII
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make the Indian securities market a
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Page 311 and 312:
Page 313 and 314:
NOTES[ 298 ]
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AnnexureCHIEF GENERAL MANAGERMARKET
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Circular No.NSDL/PI/99/637Date: Aug
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Sr.No.Annexure BParticulars Referen
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6) DPs are also advised to note tha
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Manual ElectronicProcessingprocessi
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Participant or any other person pro
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NOTES[ 312 ]
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Rule 4.1.4The permission to use the
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instructions per client account) an
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Securities and Exchange Board of In
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Dear Sir,Sub : Reduction in charges
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3. All the Stock Exchanges are advi
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(II)Penalty in case of non complian
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Circular No.Sub : Addendum to circu
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Fees for Rematerialisation of Secur
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NOTES[ 330 ]
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pose a risk to the international fi
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the ML/FT risks posed by Pakistan a
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Circular No. Date of circular Subje
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espectively of the abovementioned t
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2. Back Ground:The PMLA came into e
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prevention of money laundering and
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providing full and complete informa
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c) Registered intermediaries shall
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(ii) all series of cash transaction
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g) Unusual transactions by CSCs and
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and STR to FIU-IND. The reports may
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of Transactions, the Procedure and
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identity and address, one recent ph
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an AML/CFT regime that meets intern
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institutions should remain aware th
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(iv)(v)Details of credit due to off
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Further, Participants are requested
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DPs are also requested to take note
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Further, FIU-IND has also advised t
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have been used as genuine or where
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NOTES[ 372 ]
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Format:Date of Reason for dialup Ty
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NOTES[ 376 ]
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Rule 16.1.2Rule 16.1.3c) Freezing o
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3. Further, it has been noticed tha
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NOTES[ 382 ]
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called the Depository Participant C
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the Participant should capture the
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which highlights various types of b
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In case of any further information/
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ANNEXURE -IMPLS TARIFFNo Bandwidth
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While NSDL will continue to provide
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and at 4.30 pm instead of 4.00 pm o
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Quantity Decimal 18 72 M 15+3 witho
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Transaction Statement ExportFile Fo
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Counter CM-BP Id Character 8 174 O
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157 Lend Initiation161 SLB Confirma
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Original Order Integer 7 66 O Used
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Annexure BRejection reason code and
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(iii) Save the notepad in the SOT/S
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structure. Similar warning message
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2) Addition of new sub-type named
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PAN structure in Client account. Ho
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an account transfer instruction. Th
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e) When the instruction is captured
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• Certified true copy of Board Re
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irrespective of the source and anot
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Detailed Description:General1. The
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In the Version 8.0, a utility will
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instruction (Maker) and the one who
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5. "Cancellation" rights would be a
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File Generation Date and Time : Fil
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5. Creation(N)/ Character 30 "N" :
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authorised signatory, which has bee
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e set to 3. Whereas DP would be abl
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3 No. of Minimum Number of 2 New va
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Functional Rights Admin UserGISMO F
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Important Note:Depository Participa
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1. Import PAN and PAN flag in the r
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instaed of nominee has been chosen
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in the row 4 of the bank address de
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3. Incorrect Pin codes in bank addr
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for Clients accounts with statii
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In regard to point nos. 4,5,6 and 7
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• The systems person must take ba
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• Thus communication process shou
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Sr. Name of files What to check Whe
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Thus, the instructions which are ve
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absence of ADMIN User, his/her duti
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c) uninstall the existing Microsoft
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FAQs for backupCircular No.NSDL/PI/
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6. In case the system flashes a mes
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• Restore all the transaction log
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Circular No.Attention of Participan
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Scan Engine:A virus scan engine is
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overnight if new Virus of serious n
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Single Processor8 Online Users are
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Participants are free to choose the
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Description Hardware SoftwareEntry
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Description Hardware SoftwareMinimu
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Circular No.NSDL/PI/2000/032Date: J
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Sr. CPU RAM No. of No. of No. of No
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(2) The hardware configuration for
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• In case the upgradation of your
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NOTES[ 500 ]
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iv. Debenture Trusteesv. Bankers to
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Letter of Representation for Deposi
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NOTES[ 506 ]
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11 Amendments to Business Rules - N
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ANNEXURE BParticipant’s Name, Add
Page 527:
NOTES[ 512 ]
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