Account Opening FAQs

A Demat Account is an account holds all your securities, e.g. shares, bonds, etc. in an electronic format, eliminating the need for physical certificates. It is essential for trading and investing in the securities marketa, enabling easy buying, selling and storage of securities.

Click here to open a Demat Account online.

You can also download the account opening form - Individual or Corporate- from the Bank website and submit the filled form and required documents as per the checklist at any ICICI Bank Branch that offers Demat services.

There is no fee for opening a Demat Account with ICICI Bank. However, a nominal fee towards services is levied as per our Standard Rate Card.

Yes, you can open more than one Demat Account with ICICI Bank. There is no restriction on the number of accounts you can open with the same Depository Participant (DP).

No, there is no prescribed minimum requirement.

Yes, ICICI Bank’s Demat Account is secure and safe. It offers multi-layer authentication, encryption and advanced security protocols. ICICI Bank follows SEBI guidelines, ensuring the safety of your holdings. With secure access through Internet Banking and the iMobile app, your investments remain secured at all times.

Yes, NRIs (Non-Resident Indians) can open a Demat Account. NRIs can invest in Indian stock markets through the Portfolio Investment Scheme (PIS), as per RBI and SEBI regulations. Click here to know more or to open an NRI Demat Account.

A Trading Account is an account that allows you to buy and sell financial securities like stocks, bonds, Mutual Funds, derivatives, etc., on the stock market. It's usually linked to a Demat Account (which holds your securities in digital form) and a Bank Account (to fund your trades). When you place a trade, the Trading Account executes it, the Demat Account stores the securities and the Bank Account handles the money.

Here are the main uses of a Trading Account:

• Buying and Selling Securities: It allows you to trade in stocks, bonds, Mutual Funds, derivatives, etc., on stock exchanges
• Execution of Orders: It facilitates real-time order placement and execution during market hours
• Market Access: Gives access to stock exchanges like NSE and BSE for trading
• Tracking Investments: Helps you monitor your trades, positions and overall portfolio performance
• Margin Trading: Some Trading Accounts allow you to trade with borrowed funds (margin), increasing your buying power
• Integration: Works in sync with your Bank Account and Demat Account to handle money and store securities

A Trading Account and a Demat Account serve different purposes. A Demat Account securely holds financial instruments like Mutual Funds, stocks and bonds in digital form, while a Trading Account is used to buy and sell stocks and other securities in the market.

A Depository is like a bank where securities are held in electronic (dematerialised) form. In India, there are two Depositories -National Securities Depositories Limited (NSDL) and Central Depository Services Limited (CDSL).

Under the Depositories Act, investors can avail of the services of the Depositories through Depository Participants (DP) such as ICICI Bank. DP's are like bank branches wherein shares in physical form need to be deposited for converting the same to electronic (demat) form.

Click here to open an Online Demat Account.

You can also download the account opening form - Individual or Corporate from the bank website and submit the physical and required documents as per checklist at our ICICI bank branch offering Demat services.

There is no fee for opening a DP account with ICICI Bank. However, a nominal fee towards services is levied as per our Standard Rate Card.

Ans. Yes, you can open more than one account with ICICI Bank Demat. There is no restriction on the number of accounts you can open with the same Depository Participant (DP).

Ans. No, there is no prescribed minimum balance. You can have a zero balance in your account.

Yes, if you authorize any person to operate your account by executing a power of attorney (POA) and submit it to us, that person can operate the account on your behalf. If you have given POA earlier and now wish to operate the account yourself, the POA has to be revoked by you in writing.

1.Dematerialisation of Securities (Demat)

Dematerialisation is the process of converting the securities held in physical form (certificates) to an equivalent number of securities in electronic form and crediting the same to the investor's demat account. Dematerialised securities do not have any certificate numbers or distinctive numbers and are dealt only in quantity i.e. the securities are fungible.

1.1 Availability of Forms

Submit a completely filled-up Demat Request Form (DRF) in triplicate for each ISIN along with the defaced physical certificates. The forms are available at any ICICI Bank branch offering demat services.

1.2 Filling up the form

Ensure that security mentioned on the certificates is eligible for Demat. For being eligible for demat, the company has to sign up with NSDL/CDSL. You can check eligibility on www.icicibank.com or ask the nearest Branch.

Use a separate DRF for each security having a unique International Security Identification Number (ISIN). Verify the certificates carefully and mention the correct ISIN. In case two or more sets of certificates of the same security have different ISIN (this is possible in case of partly paid up shares and non-pari passu shares), use separate DRFs for each ISIN. However, you can dematerialise multiple folio nos. of the same pattern of holders relating to the same ISIN under a single DRF.

Submit certificates under lock-in under separate DRF. Do not mix the same with free securities. In case of locked-in securities, fill up the lock-in reason & lock-in release date on the DRF. Amongst lock-in securities belonging to the same ISIN but having different lock-in release dates or lock-in reason, make separate DRF requests.

Demat requests received from client(s) with name(s) not matching exactly with the name(s) appearing on the certificates merely on account of initials not being spelt out fully or put after or prior to the surname, can be processed. However, this is possible only if the signature(s) of the client(s) on the DRF tallies with the specimen signature(s) available with the Issuer or its Registrar. For example, the shareholder may have opened the depository account in the name of Sushil Ramesh Shah but his name on the share certificate may appear as S. R. Shah or Sushil R Shah etc.

The combination and the order of holders' names on DRF and as printed on the Certificates should be identical with that in the DP account.

For example, if the shares are in the name of X, Y (X as first holder and Y and second holder) it cannot be dematerialised in the account of either X or Y alone. Also if the shares are in the name of X, they cannot be dematerialised in the account of X, Y (X as first holder and Y as second holder).

However, where the combination of holders is the same in the certificates and in the demat account, and the difference is only in the order in which the name of the holders appear on the share certificates and in the demat account, dematerialisation is possible. Here, you have to submit a Transposition Request Form along with the DRF. The form is also available at the nearest Branch.

The DRF must be signed by all the account holder's and should be in the same order. The signature on the DRF should match with the specimen signature with ICICI Bank. If the signature differs, you should sign the DRF in the presence of the Branch Officer. If you have a doubt that the signature on the DRF may not match with that registered with the Registrar, you can get the signature on the DRF attested by your banker.

The details of certificates such as the folio no., certificate no., & distinctive no. must be filled up correctly on the DRF.

For help on filling up, refer to the sample filled-in DRF provided in Annexure-1.

1.3 Submitting the form

You must deface the certificates by putting a stamp or by writing ''Surrendered for Dematerialisation". However defacing should be done only after checking the eligibility of security, as defaced securities cannot be sold in physical form. If defacing has been done by mistake then you should send the same to registrar for replacement.

*NSDL Business Rule 11.1.7.

The Participant shall ensure that the certificates submitted for dematerialisation are marked by the Client (customer) with the words "Surrendered for Dematerialisation".

Certificates should not be mutilated or defaced in such a way that the material information is not readable.

Ensure that the certificates are attached in the same order as mentioned in the DRF.

You should submit the DRF in triplicate. You can submit the DRF at any ICICI Bank branch. The acknowledgement slip at the bottom of the form will be stamped and handed over to you after verification by the ICICI Bank official.

1.4 Credit in the Demat Account

The defaced shares along with the DRF are sent by ICICI Bank to the registrar who will then credit the customer's account. The normal time taken for credit of shares to the account after confirmation by the Registrar is about 30 days. However the time taken would vary from one registrar to another over which ICICI Bank has no control.

To check whether your account has been credited, you can refer to the transaction statement (Refer # 12, below). The same will be reflected in pending demat balance on receiving your request. After dematerialisation, the same will be reflected under free balance. Alternatively you can use the web (register on www.icicibank.com), phone us or visit the ICICI Bank branch. In case your account does not get credited within a month of submission, you can either phone us or write to us using the "Email Us" option.

In case there is a delay beyond 40 days, if you so wish, ICICI Bank can give you the registrar's name and telephone number as well as your Demat Request Number (DRN).

1.5 Rejection of Demat Requests

Your request may get rejected for various reasons either at the Central Processing Office of ICICI Bank or by the Registrar. Dematerialisation is done by the Registrar only when it is satisfied of genuineness of securities & ownership status.

On a rejection, the securities are sent back to you stating the reason for the rejection.

You can resubmit the certificates for dematerialisation after resolving the reason for the rejection. Please resubmit on a fresh DRF. Do not use the same DRF on which the objection was made.

1.6 Transmission-cum-Demat

In case of certificates held jointly, on the death of any one or more of the joint holder(s) mentioned on the certificate, the surviving joint holder(s) can get the name(s) of the deceased deleted from the physical certificate(s) and get the securities dematerialised in the DP account of the surviving holder(s) by submitting the following documents along with the DRF:

• A copy of the death certificate duly notarised

• A copy of the Succession certificate duly notarised or an order of a court of competent jurisdiction where the deceased has not left a Will or

• A copy of the Probate or Letter of Administration duly notarised.

Ans. Yes. You can choose to have all your securities deposited in a single account provided that the securities have the same holders.

Ans. Yes, you can, with the permission of the bank with whom such shares are pledged.

Ans. Yes, Odd lot share certificates can also be dematerialised.

Ans. In such cases you need to submit a certified true copy of the marriage certificate along with the Demat Request Form (DRF), when you give your shares for dematerialisation. Also provide an attested new specimen signature.

Ans. Yes, SEBI has permitted dematerialised securities to be delivered against obligations in the physical segment at the stock exchanges connected to the depository.

Ans. No, dematerialised securities of all the companies that are eligible for dematerialisation can be delivered against obligations in the physical segment. This also applies to delivery against auction of securities in the physical segment.

1. Rematerialisation
2. Form
3. Filling up the form
4. Submitting the form
5. Receipt of Physical Shares
6. Rejection of Remat Requests
7. Repurchase of units of UTI US ' 64

1. Rematerialisation

Rematerialisation is the process of converting the securities held in electronic form in a demat account to an equivalent number of securities in physical form (certificates) after debiting the same from the demat account.

2 Form

Submit a completely filled up Remat Request Form (RRF) in triplicate for each ISIN. Forms are available at any of the ICICI Bank branches.

3 Filling up the form

Ensure that the RRF is completely filled up. Incomplete details may lead to rejection of the remat request.

Use a separate RRF for each eligible security. Please ensure that name of the security and the ISIN number is entered correctly.

Submit requests for balances under lock-in through a separate RRF. Do not mix the same with free securities. Amongst lock-in securities belonging to the same ISIN but having different lock-in release dates or lock-in reason, make separate RRF requests.

You should mention the lot types whether Jumbo or Market Lot clearly. If the same is not filled up then the registrar will send certificates in market lot.

You must have sufficient free balance in your account for the ISIN for which the RRF is submitted.

The RRF must be signed by all the account holder's and should be in the same order. The signature on the RRF should match with the specimen signature with ICICI Bank.

4 Submitting the form

You should submit the RRF in triplicate. You can submit the RRF at any ICICI Bank branch. The acknowledgement slip at the bottom of the form will be stamped and handed over to you after verification by the ICICI Bank official.

5 Receipt of Physical Shares

The RRF is forwarded to the registrar. On acceptance of the remat request by the registrar, your account will be debited. The physical share certificate will be sent directly to you by the registrar. You can also check the same on www.icicibank.com or through IVR or phone us or visit the nearest Branch. You will also receive an alert for the success/failure of your request on SMS (registration form for "Mobile Alerts" on www.icicibank.com).

The normal time taken for receipt of the physical shares is within a period of 30 days. However the time taken would vary from one registrar to another over which ICICI Bank has no control.

In case you do not receive the physical shares within a month of submission, you can either phone us or write to us using the "Email Us" option, so that we can check with the registrar.

In case there is a delay beyond 40 days, if you so wish, ICICI Bank can give you the registrar's name and telephone number as well as your Remat Request Number (RRN).

6 Rejection of Remat Requests

Your request may get rejected for various reasons either at the Central Processing Office of ICICI Bank or by the Registrar. On a rejection, you will be informed about the reason for rejection of the request.

You can submit a fresh request after resolving the reason for the rejection.

7 Repurchase of units of UTI US '64

For and on behalf of National Securities Depository Limited

All Participants are hereby informed that Unit Trust of India (UTI) has intimated to NSDL about the conversion of US64 units in demat to 6.75% tax free GOI US64 bonds. Further, UTI has also intimated that rematerialisation/dematerialisation/repurchase requests for US64 units held under ISINs INF189A01095, INF189A01129, INF189A01103, INF189A01137, INF189A01111 and INF189A01145 should not be accepted after May 31, 2003. A copy of letter no. UT/DOO/849/opr-160/2002-03 dated May 28, 2003 is enclosed for the information of Participants.

1. PLEDGE
2. Form
3. Filling up the form
4. Submitting the form
5. Execution of the Instruction
6. Rejection of Pledge Requests

1. Pledge

Securities held in demat form can be pledged/hypothecated by the client to avail of loan/credit facility. Pledge of securities in NSDL depository requires that both the borrower (pledgor) and the lender (pledgee) should have a demat account with any of the DPs with NSDL and Pledge of securities in CDSL depository requires that both the borrower (pledgor) and the lender (pledgee) should have a demat account with any of the DPs with CDSL. The facility for Inter Depository pledge (where pledgor and pledgee has a demat account with different depositories) is not available.

Please note that financial transactions are handled outside the depository system. However, even after the securities are pledged, the pledgor continues to remain the beneficiary holder of those securities and will receive benefits of a corporate action, if any.

With "Speak to Transfer", transfer or pledge your Securities by just speaking to our through our Phone Banking Officer. No need to submit physical instructions at the Branches. Visit the nearest ICICI Bank branch and register for e-instruction.

Following are the steps involved in Pledge/Hypothecation

• Creation of Pledge:The pledgor submits duly filled in Pledge Request Form to his DP for Creation of Pledge. On execution of the instruction by the DP a pledge order no. is generated for each ISIN.
• Confirmation of Pledge Instruction:The pledgee submits duly filled in Pledge Request Form quoting the Pledge Order No. (given by the pledgor) to his DP. On execution of the instruction the shares are marked as pledged in the pledgor's account. Pledge balances cannot be transferred.
• Closure of Pledge Instruction:The pledgor submits duly filled in Pledge Request Form to the DP for release of pledge. The pledgor does this after he has repaid the loan received from the pledgee.
• Closure Confirmation of Pledge Instruction: The pledgee submits duly filled in Pledge Request Form for confirmation of release of pledge to his DP. The pledgee would do this after ensuring that the pledgor has repaid the loan/credit facility extended to him. On execution of instruction the shares move from pledge balance to free balance in the Pledgor's account.
• Invocation of Pledge Instruction: The Pledgee submits duly filled in Pledge Request Form quoting the pledge order no. to his DP. On execution of instruction the shares moves from the pledged balance of the Pledgor's account to free balance in the Pledgee's account. The pledgee does this when the pledgor has failed to repay the loan as per his obligations.
• Confirmation of Invocation of Hypothecation Instruction: The difference between a pledge and a hypothecation request is that whereas invocation of pledge can be done unilaterally by the pledgee, a confirmation of the pledgor is required in the case of invocation of hypothecation. For this pledgor submits duly filled in Pledge/ Hypothecation Request Form to the DP.

2. Form

There is a common form for all pledge requests given above. Typically, you would need to use it at the time of creation and at the time of closure of a pledge. Forms are available at any of the ICICI Bank branches.

3. Filling up the form

There is a common pledge/hypothecation form for all types of instruction. You must tick the appropriate box to indicate the instruction type.

You should clearly indicate whether the instruction is for Pledge or Hypothecation.Ensure that the Pledge form is completely filled up. Incomplete details may lead to rejection of the pledge request.

You should enter the DPID and Account number correctly on the space provided on the left-hand side of the form. You should enter the counter-party details correctly on the space provided on right hand side of the form.

You must fill up the Agreement number as provided by the pledgee. This refers to the pledge agreement signed between the pledgor and the pledgee.

You must fill up the Closure date as provided by the pledgee. This is referred in the pledge agreement signed between the pledgor and the pledgee.

You must fill up the ISIN & security name of the security to be pledged.

If the shares are under lock-in then you should fill up the lock-in reason and lock-in release date in the space provided.

The no. of securities should be filled up correctly in the space provided. In case of pledge creation, you must have free balance in the ISIN mentioned.

The instruction must be signed by all the account holder's and should be in the same order. The signature on the request should match with the specimen signature with ICICI Bank.

You must enter the Pledge order number for all types of pledge instructions other than pledge creation instruction.

4. Submitting the form

You can submit the pledge request at any ICICI Bank branch. The acknowledgement portion will be stamped and handed over to you after verification by the ICICI Bank official.

5. Execution of the Instruction

The instruction is executed at the Central Processing Office of ICICI Bank. On execution the balances move as mentioned above.

6. Rejection of Pledge Requests

Your request may get rejected for various reasons either at the Central Processing Office of ICICI Bank or by the counter-party. On a rejection at the Central Processing Office, you will be informed about the reason for rejection of the request.

You can submit a fresh request after resolving the reason for the rejection.

If a creation request is rejected by the counter-party the balance will get transferred from the pledged balance to the free balance.

7. Submitting Pledge instructions through "Speak to Transfer"

• You have to first register for the e-Instruction facility by filling up the prescribed form available at the branch. You need to specify upto five target accounts to which you can pledge your securities through our Phone Banking Officer.
• Call up our Phone Banking numbers Select Demat menu from all the options read by IVR. Get yourself authenticated by entering DPID & Demat a/c no. with TPIN provided to you.
• Select the option 5 of "Speak to Transfer" to submit Plegde instructions from Demat menu.
• Our Phone Banking Officer will attend you and will ask for the information required for Pledging your securities.
• After confirmation form yourside, Phone Banking Officer will give Pledge Reference number for your completed transaction.

The client has an option to freeze his account in case he does not intend to do any transaction in the near future. This helps in curbing unauthorised use of demat account & prevention of frauds. Once freezed the account can be defreezed only on the instruction of the account holders.

1. Sale / Delivery of Securities.
2. Getting instruction slips (TIFD/IDT booklets)
3. Filling up an instruction slip (TIFD/IDT)
4. Submitting the form
5. Debit in the Demat Account
6. Failure to execute Instructions

1. Sale/Delivery of Securities.

Securities transactions can be settled in demat form for the transactions done on stock exchanges connected to NSDL/CDSL. Trading in dematerialised securities is done through your broker just like trading in physical securities.

Sell dematerialised securities

• You can sell your dematerialised securities in any of the stock exchanges linked to NSDL/CDSL through a broker of your choice.
• You need to give a 'delivery instruction' to your DP for debit of your depository account and credit of your broker's clearing member account.
• You receive payment from the broker for the sale in the same manner you would receive payment for a sale in the physical mode.

Buy dematerialised securities

• You can purchase securities in any of the stock exchanges connected to NSDL/CDSL through a broker of your choice and make payment to your broker. Make sure you tell your broker you want only demat shares.
• Broker receives credit in his clearing account with his DP on the day of payout. He can immediately transfer these securities to your depository account, provided your account is already active.
• Broker gives instructions to his DP to debit his clearing member account and credit your depository account.

Delivery of security

To deliver securities in electronic form, you have to authorise the DP to transfer balances from your account.

• You must give a debit authorisation to ICICI Bank in the booklet of instruction slips provided to you. The slip should be given physically at the nearest Branch.
  (You can also register for the e-Instruction facility to submit transfer instructions through Internet / IVR (Interactive Voice Response System) on Phone and with "Speak to Transfer" through our Phone Banking Officer )
• In the instruction slip, you have to mention the counter-party account details. The counter-party account may be within the same DP (Intra-DP transfers) or with a different DP (Inter-DP transfers) within NSDL or with another depository - CDSL (Inter Depository Transfers). For transfers within NSDL, a TIFD (transfer instruction for delivery) is required. For transfers to a CDSL account, an IDT (inter-depository transfer instruction) is required and vica versa.

 2 Getting instruction slips (TIFD/IDT booklets)

• You are provided a "Personalized TIFD booklet" at the time of opening the account. You will need to use slips from this booklet for all your transfers.
• For IDT (Inter Depository Transfer slips), request for the same in writing to the nearest Branch. The request should be signed in presence of the Branch Officer. Ensure you use slips allotted to your demat account only as per business rules of NSDL/CDSL.
• Please do not use someone else's slip since that will not be accepted by the system and also cannot be processed as per business rules of NSDL/CDSL.
• Please do not give your blank slip to anyone as this may lead to frauds and associated complications. If you lose your booklet, report the same in writing (under signature of all account holders) to the nearest Branch immediately.
• If you are nearing exhaustion of all slips in the booklet, you can request for reissue of a new booklet by visiting nearest bank branch. Submit the request on the requisition slip present in your existing booklet. Where you are unable to present the request on the requisition slip, you can submit a letter. However, the letter should be signed in presence of the Branch Officer You can also register for the Internet Banking and Phone Banking facilities to submit the request on Internet / Phone.
• The booklet will be couriered to you and will reach you within a week from the date of submitting the request.
• On receiving your booklet, verify that your DPID, DP Account No. and name is present on all slips including the Requisition slip.
• In emergencies where you have exhausted your TIFD/IDT booklet and cannot wait for the time required to fulfill your request for a new booklet, you can also get TIFD / IDT slips issued across the counter for emergency use.
• For getting an emergency slip from your branch:
  • You have to personally visit your home branch
  • You have to personally visit your home branch
  • You have to request for the slip on the prescribed form available at the branch.
• TIFD / IDT issued in such a manner are valid only for immediate use

3 Filling up an instruction slip (TIFD/IDT)

The request should be filled up in the appropriate slip issued to you. For transferring securities to an account within NSDL, use TIFD slips. For transferring securities from an account within NSDL to an account with CDSL, use IDT slips.

There are two common types of accounts within NSDL/CDSL - beneficiary accounts (opened by the normal investors) and clearing member pool accounts (opened by brokers). Accordingly there are two types of transfers possible with TIFDs.

An instruction for transfer of security from a Beneficiary Account to a Clearing Member Account (Broker's pool account) is termed as a Market TIFD. This is for delivering securities to the broker for onward delivery to the stock exchange towards fulfilling settlement obligations in respect of trades done on a stock exchange (Market Trades).

An instruction for transfer of security from a Beneficiary Account to another Beneficiary Account is termed as an Off Market TIFD (Off Market Trades).

The following points are to be noted:

Details are to be filled up only for Market Trades on a TIFD slip.

• CM-BP-ID: This is the Clearing Member Business Partner ID of the Broker to whom the securities are to be transferred. The CM-BP-ID is an 8 character code starting with 'IN' provided by NSDL/CDSL to the clearing member. You should find this out from your broker. Any incorrect entry can result in transfers to the wrong account.
• CM Name: This is the name of the Broker to whom the securities are to be transferred. This is the market type on which the trade has been done by your broker. The stock exchange has separate segments for each market type in which the orders are matched e.g. Rolling, Rolling Odd Lot, etc. You should confirm this with your broker.
• Market Type: This is the market type on which the trade has been done by your broker. The stock exchange has separate segments for each market type in which the orders are matched eg. Rolling, Rolling Odd Lot, etc. You should confirm this with your broker.
• Settlement No: This is the settlement no. in which the trade has been done by your broker. This is a 7-character code. You should confirm this with your broker.

You should submit the slip latest by 4 p.m. on business day prior to the execution date. TIFDs received after 4 p.m. will be accepted on 'Best Effort' basis and ICICI Bank does not undertake any liability for its non-execution. They may also attract a late charge (Please refer the rate card). In case of market trades, also ensure that the execution date is specified such that securities are transferred to the pool account before the exchange pay-in deadline.

Strike out the portion relating to Off - Market Trades.

Details to be filled up only for Off-Market Trades on a TIFD slip.

• DP ID: This is the Depository Participant ID with whom the target account (the account to which the securities are to be transferred) is maintained. It is 8-character starting with 'IN'. You should find this from the target account holder. Incorrect DP ID may result in transfer of securities to a wrong account.
• DP Name: This is the name of the Depository Participant with whom the target account is maintained. You should find this from the target account holder. Please note that this is not the name of the account holder.
• Client ID: This is the 8-digit account number of the target account. You should find this from the target account holder. Any incorrect entry can result in transfers to the wrong account.

Strike out the portion relating to Market Trades

Details to be filled up only in an IDT slip.

• Depository ID: This is the Depository ID for CDSL. It is 'IN000026'.
• Client ID: This is the 16-digit account number of the target account (the account to which the securities are to be transferred). You should find this from the target account holder. Any incorrect entry can result in transfers to the wrong account.

Details to be filled up in both TIFD slips (for both Market and Off-Market Trades) and IDT slips.

• ISIN: This is the International Security Identification Number (ISIN) of the security to be transferred. This is a 12 character code starting with 'IN'. You should confirm this from your transaction statement and then fill up the same. You can also check this on www.icicibank.com or from your nearest Branch or from your Broker. Be careful in specifying the correct ISIN where a security has multiple ISINs.
• Security Name: This is the name of the security to be transferred.
• Quantity: This is the number of units of securities to be transferred. This is to be filled up both in figures & in words in the space provided.
• Total ISIN to be delivered: This is the total number of ISINs to be delivered under the particular slip. Also strike out the rows of ISIN details which are not used to avoid any tampering.
• Execution Date: This is the date on which the securities are to be transferred from your account. In case of market trades, you should fill this up in consultation with your broker. In case the execution date mentioned by you is a NSDL/CDSL business holiday, the next working day is taken to be the execution day. 

You may issue the instruction well in advance of the date on which you want the securities to be debited from your account. By giving a future dated instruction you cover the risk against non-execution of instruction due to lack of time or last minute rush.

You should submit the slip latest by 4 p.m. on business day prior to the execution date. TIFDs received after 4 p.m. will be accepted on 'Best Effort' basis and ICICI Bank does not undertake any liability for its non-execution. They may also attract a late charge (Please refer the rate card). In case of market trades, also ensure that the execution date is specified such that securities are transferred to the pool account before the exchange pay-in deadline.

Example for applicability of Best Effort Stamp & Late Charges:

*Late charge is Rs.10/- per ISIN

• Signature:The slip must be signed by all the account holder's as per the specimen registered with ICICI Bank. In case of personalised booklets, the names of all holders are preprinted. Mismatch in signature of even one of the joint holder's results in the rejection of the TIFD. For help on filling up, refer to the sample filled-in TIFD provided in Annexure 2.

4 Submitting the form

You can submit the TIFD at any ICICI Bank branch. Take the acknowledgement copy after stamping by the ICICI Bank official.

You may issue the instruction well in advance of the date on which you want the securities to be debited from your account. By giving a future dated instruction you cover the risk against non-execution of instruction due to lack of time or last minute rush. You should submit the slip latest by 4 p.m. of the business day before the execution date (i.e. there should be one clear working day gap between the date of submission of the TIFD and the execution date).

Transfer instructions should not be submitted for execution day as holiday. If there is a holiday in between, instruction should be submitted one day in advance.

Submitting TIFD / IDT through Internet

• You have to first register for the e-Instruction facility by filling up the prescribed form available at the branch. You can specify upto five accounts to which you can transfer securities through Internet/Phone. 
• Login to www.icicibank.com using infinity user id and password provided to you.
• Click on required Demat account number appearing on "My Accounts" page of www.icicibank.com
• Holdings of the selected demat account will be displayed on the next page.
• Click on e-Instruction link on the left menu.
• The next page will display prenotified target accounts linked with demat account selected in 3.4.3. Select the target account as required by you and click "GO" button.
• Fill up the execution date , ISIN, Quantity and settlement number (If required) on the next page and click on button "Submit".
• Next page will display all the details entered by you till now. Please check the same and click on "Back" button if you wish to change the same or on "Confirm" button if you want to proceed.
• A reference number will appear on the next screen, Note the same for future reference.

Submitting TIFD / IDT through IVR

• You have to first register for the e-Instruction facility by filling up the prescribed form available at the branch. You need to specify upto five accounts to which you can transfer securities through Internet / Phone.
• Call up our Phone Banking numbers Select Demat menu from all the options read by IVR. Get yourself authenticated by entering DPID & Demat a/c no. with TPIN provided to you.
• Enter your demat account number.
• Select the option to submit transfer instructions from Demat menu.
• Next menu will read all the prenotified accounts linked to your Demat Account. Press 1, 2 or 3 upto 5 select the Target Account Number.
• If counter party selected in step 3.4.6 is a POOL account, the next menu will read out various market types. Select the appropriate market type.
• Enter the last 3 digits of settlement number pertaining to that market type.
• System will ask for execution date. Enter the execution date in the format dd-mm-yyyy (for example, to enter 5th June, 2003, enter 05062003). System will verify all the details and will proceed to the next option if punched in details are correct
• System will directly come to step 3.5.8 from 3.5.5 if counter party selected is not a POOL account (i.e. the transfer is an Off Market for Inter-Depository Transfer).
• Enter the numeric digits of the ISIN.
• Enter the quantity to be transferred.
• System will read all the details entered by you along with available quantity make appropriate choice by entering 1, 2, 3 or 4.

Submitting TIFD / IDT through "Speak to Transfer"

• You have to first register for the e-Instruction facility by filling up the prescribed form available at the branch. You need to specify upto five accounts to which you can transfer your securities through Internet / Phone.
• Call up our Phone Banking numbers Select Demat menu from all the options read by IVR. Get yourself authenticated by entering DPID & Demat a/c no. with TPIN provided to you.
• Select the option 5 of Speak to Transfer to submit transfer instructions from Demat menu.
• Our Phone Banking Officer will attend to you and will ask for the information required for transferring your securities.
• After confirmation form yourside, Phone Banking Officer will give TIFD Reference number for your completed transaction.

Click here for demo on Speak to Transfer

5 Debit in the Demat Account

There will be a debit in your account on the execution date specified in the instruction. You can check the same in your transaction statement. You can also check the same on www.icicibank.com or through IVR or visit the nearest Branch. You will also receive an alert for the success/failure of the transfer on SMS registration form for "Mobile Alerts" on www.icicibank.com .

6 Failure to execute Instructions

An instruction can fail either at the Central Processing Office of ICICI Bank or at NSDL/CDSL.

A failure can happen at the Central Processing Office on account of signature mismatch or if the TIFD slip is incomplete or not properly filled up. Please take due care while filling up the TIFD. There can be a failure at NSDL/CDSL if your account does not have the required number of specified shares or problem with the target a/c.

You will be intimated about the failure through a letter. On receipt of such intimation, the customer should do the needful in terms of submitting a correctly filled TIFD taking into account the reasons for rejection as intimated to you.

All purchase/ receipt of securities in your account is effected as per your 'Standing instructions for Credit' given to ICICI Bank to receive credits automatically in your account. You normally give such a standing instruction in the account opening form itself. You can give it later also by writing to the DP.

If you have not given a standing instruction for receiving credits, you are required to give a specific receipt instruction for each credit in the prescribed form.
The date of credit will depend on your broker's instructions and ICICI Bank has no control on the same.

• To ensure proper credit in your account, please instruct your broker to credit the shares to your account number with ICICI Bank. For this, give your Demat account number and the ICICI Bank DP ID to the broker.
• Please note that you must settle your money transaction independently with the broker.

     
You can also check the same on www.icicibank.com or through IVR or phone us or visit the nearest Branch. You will also receive an alert for the success/failure of your request on SMS registration form for "Mobile Alerts" on www.icicibank.com).

Ans. No, shares can be bought and sold only through a stockbroker. ICICI Bank Demat helps in delivering the shares against a sell transaction or receiving the shares for a buy transaction. You can open an account with icicidirect.com to avail of seamless trading and settlement.

In case the company in which a beneficial owner holds shares in demat form announces any corporate benefits like bonus, dividend etc. the beneficial owner will receive the same directly in his demat account or bank account depending on the nature of the benefit.

• For payment of dividend etc., the company/registrar takes a list of beneficial owners from NSDL/CDSL as on the record date/book closure date. Based on this list, company makes payment of dividend. If the company is making the payment through ECS, the company will directly credit the dividend to the bank account registered by the beneficial owner with the DP under intimation to the beneficial owner. If the company is making the payment through a cheque/DD, the bank details will be printed on the dividend warrant. The mode of payment of dividend etc is decided by the company itself.
• In case of a bonus declaration by a company, the bonus securities on the eligible securities in the beneficial owner's demat account are automatically credited to the beneficial owner's demat account by the company/registrar under an intimation to the beneficial owner. This will be reflected in the transaction statement for the period. In respect of the physical holdings, the customer will receive bonus securities in physical form.
• In case of a rights issue, the beneficial owner will receive an option to subscribe for the eligible number of securities from the company/registrar. These securities may be in physical form or in electronic form in the customer's demat account. The customer can exercise the same in the normal course. While exercising the option (in respect shares both in physical or electronic form), the customer may mention the demat account in which the securities allotted are to be credited provided the company is available for demat with NSDL/CDSL. Alternatively, the customer can also ask for the securities in physical form.
• In case of a merger or acquisition, securities in the beneficial owner's demat account is automatically credited and debited by the company/registrar as per pre-declared ration under anintimation to the beneficial owner. This will be reflected in the transaction statement for the period.

When subscribing for shares in a public issue, you can request for securities, if allotted, to be credited directly to your demat account and quote your demat account for the purpose in the application form.

After allotment, the securities will be credited directly to your demat account under an intimation to you from the company/registrar. Such credit is done before the date of listing of the securities on a date considered convenient by the company/registrar. However, if the details of the demat account specified in the form are incorrect, the securities will be allotted in physical form and certificates will be sent to you.

SEBI has announced that the shares of all companies going in for Public offer will have to be compulsorily settled in demat form by all investors. It is therefore advantageous for an investor to prefer the allotment in demat form, so that the shares have higher liquidity.

You can update the mobile number & e-mail ID in your Demat Account through the modes mentioned below:

1. Log in to your linked ICICI Bank Internet Banking > Investments and Insurance > Demat > Service Requests > Demat > Updation of Mobile No., Telephone No. and e-mail ID
2. Call our Customer Care, authenticate the call entering the Demat Account number and TPIN or Debit Card number and PIN, so that the officer can raise a request to update e-mail ID in the Demat Account.
3. To know the local Customer Care numbers,  please click here.
4. Visit the nearest Demat enabled branch and fill the Form for E-mail Id/Mobile Number/Income Range Update Form for Individuals or Non-Individuals

In order to change your signature in your demat account, kindly submit the 'Change of Signature' form at any of the nearest ICICI Bank Branch offering demat facility.
To download the form, click here.

Kindly enclose the following documents with the form:

• Enclose copy of any one of these documents for proof of identity (To be verified with original by branch person):
  Voter ID card
      Driving License
      Passport
      PAN card
• Enclose the latest transaction statement of the demat account.

The new signature will have to be attested by the Branch Manager where you hold the bank account specified in your demat account. Kindly mention the reason for change of signature.

After submitting the duly filled form, the new signatures will be registered in our records in 7 working days.

You can make a nomination of your account in favour of any person(s) by filing up the nomination details in the account opening form. This is to enable the nominee(s) to receive the securities after the death of all the holder(s) of the Demat account.

Nominees can be appointed by individuals only. Non-individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family, holder of power of attorney cannot nominate. Where a minor is appointed as a nominee, the name and address of the guardian is also required to be obtained.

Where a nomination has not earlier been made or where an earlier nomination is ought to be changed, you can submit a duly filled-in nomination form at the nearest ICICI bank demat servicing branch. Nominee request to be submitted by the account holder. Nomination can be made upto three nominees in a demat account. In case of multiple nominees, the account holder to specify the percentage of share for each nominee that shall total upto hundred percent. In the event of the beneficiary owner not indicating any percentage of allocation/share for each of the nominees, the default option shall be to settle the claims equally amongst all the nominees. Any odd lot after division shall be transferred to the first nominee mentioned in the form.

Please ensure to mention the all the details mentioned on the Nomination form:

• Nominee Name
• Share % is mandatory in case of more than one nominee
• Nominee relationship with account holder
• Nominee address & contact details
• ANY ONE Nominee Identification details

1. Nominee Photo & Signature – here nominee signature is required only if the photograph is provided
2. PAN – Only PAN no is to be mentioned on the form. Copy is not required
3. Aadhaar – Last 4 digits of the Aadhaar is to be mentioned on the form. Copy is not required
4. Savings bank account number – If ICICI bank account, then only the account number to be mentioned on the form
5. Proof of identity – self attested copy of proof of identity other than PAN & Aadhaar is to be taken after selecting the option. E.g. Passport copy, Licence card, voter’s id card etc.
6. Demat Account ID - If nominee has an ICICI Demat account number, only account number to be mentioned else can ask the customer to share the demat details of other DP

In case if you do not want to add a nominee(s) in the demat account or wish to opt out of nomination, kindly submit the ‘Declaration Form for opting out of nomination’ at the nearest ICICI Bank branch offering Demat services.

To increase convenience to the customers, there is a facility for the customer to directly access his/her demat account 24 hours a day, 365 days a year through the internet.

Internet

Facilities available on www.icicibank.com:

View transaction statement
View holdings
View account details
Get the ISIN for a Security
Get Settlement Details
Request for a TIFD booklet or Client Master list (CML)
e- Instructions- facility to transfer securities

Phone - Interactive Voice Response (IVR)

Facilities available:
Details of last few transactions
Details of holdings
Request for a TIFD booklet
Query for an ISIN
Get status of requests submitted - TIFD/IDT, Demat, Pledge, Remat
e- Instructions- facility to transfer securities

Further, the Call centre is also equipped to handle specific queries on the demat accounts. For accessing the above facilities, the customer needs to register for the same.

For accessing the above facilities, the application for registration should be done in the prescribed form. The form can be submitted at any ICICI Bank branch offering demat services.

ICICI Demat Services allows customer to access his demat account through the following channels:

www.icicibank.com
IVR (Interactive Voice Response) at Call Center .

Both these channel require authentication. On www.icicibank.com, access is provided once the Userid and the password is mentioned and for IVR after tthe Telephone Personal Identificaiton Number (TPIN) is provided.

TPIN is sent by post on submitting a Channel Registration request at any branch offering demat services.

On submission of the request, following 3 envelopes are sent :

TPIN (To be used for Phone Banking)
Infinity User ID (To be used for Internet Banking)
Password (To be used for Internet Banking)

In some cases, you may already have an UserID for the existing relationship with ICICI Bank (could be a Bank account or a credit card...) and may request for the Demat account to be linked to the same UserID ( in which the first holder is same across accounts). You will start seeing the demat account details through the same UserID .

Click here for e-instruction

With Mobile Banking you have an option to remain updated while you are on the move, without even having to make a phone call or a visit or logging on the Internet.

Alert Facility

Through this facility, you will receive a mobile alert in the form of SMS whenever there is a significant event in the demat account. You will receive mobile alerts when shares are credited in the demat account or if there is an issue with transfer instruction. For instance you gets Alerts for:-

• When TIFD / IDT are successfully processed or failed.
• For TIFD / IDT rejection reasons.
• For Pledge creation and Closure request.
• For Shares given for demating are credited or rejected in the demat account.
• For Remat request given and processed successfully.
• Credits of shares from any other party to your demat account.
• For any corporate action in your demat account.

We request you to link your Demat account through Internet Banking:

Internet Banking:

Please login to your Internet Banking Account > Customer Service > Service Requests > Demat > Link Demat User ID to Existing User ID > Enter the required details and click on 'Submit'. Your request will be processed in 1 working day.

ICICI Bank Branch :

Please visit the nearest ICICI Bank demat servicing branch along with your original photo ID proof. To locate the nearest ICICI Bank Branch, visit maps.icicibank.com/mobile

Notes:

1. Place this request if you want to link your Demat User ID to your existing Internet Banking User ID. Your Demat User ID on www.icicibank.com will be deleted and you will be able to use your Demat Account through your existing Internet Banking User ID on www.icicibank.com.(Please note that this request is not for linking your User ID on www.icicidirect.com)
2. Request will be processed for Single Demat Account holders only. Joint Account holders are requested to submit a letter signed by all the account holders at the nearest ICICI Bank Branch having Demat Services. The Demat Account holder should be the first holder in the Account to which the Demat User ID has to be linked.

Transmission of securities refers to the transfer of securities from an account to another as a result of the death of the sole/any of the holder of the former account. For this the latter need not approach each issuing company or its R & T Agent. Only the DP of the former account needs to be approached. Here the transfer may be done to:

Demat transmission requests are of 4 scenarios based on the account opened and details updated in the Demat account.

Transmission – Joint holder Case :

1. Transmission Form duly filled & Signed by Surviving holder
2. Death Certificate duly attested Notary Public/Gazette Officer/Original, In case Death Certificate issued in abroad then it must be attested before/by Indian embassy/Indian Consulate
3. In case surviving holder has demat account is with another DP then Client Master List (CML copy) in crystal format
4. Self-attested PAN copy surviving holder

Transmission – Nominee Case :

1. Transmission Form duly filled & Signed by Nominee
2. Death Certificate duly attested Notary Public/Gazette Officer/Original, In case Death Certificate issued in abroad then it must be attested before/by Indian embassy/Indian Consulate
3. In case nominee having demat account is with another DP then Client Master List (CML copy) in crystal format
4. Self-attested PAN copy of claimants (If PAN is not updated in deceased a/c then self-attested PAN card copy of nominee to be obtained)
5. Account opened before 2016 – Nominee Indemnity required (Only for NSDL Cases)
6. Account opened post 2016 – ID proof submitted at the time of nomination needs to be provided

Transmission – NO Nominee Case :

Transmission – Legal Heir Less than 15 lacs holdings :

1. Transmission Form duly filled & Signed by Legal Heir/’s
2. Original Death Certificate or copy of the death certificate duly attested Notary Public/Gazette Officer/Original, In case Death Certificate issued in abroad then it must be attested before/by Indian embassy/Indian Consulate
3. Self-attested PAN copy of legal Heir/’s
4. In case demat account is with another DP then Client Master List (CML copy) in crystal Format
5. A notarized affidavit, from all legal heir(s) made on non-judicial stamp paper of appropriate value, to the effect of identification and claim of legal ownership to the securities; (in case the legal heir(s)/claimant(s) are named in any of the Succession Certificate or Probate of Will or Will or Letter of Administration or Legal Heirship Certificate (or its equivalent certificate), issued by a competent Government Authority, an affidavit from such legal heir(s)/claimant(s) alone shall be sufficient)
6. Copy of the Succession Certificate (in terms of the Indian Succession Act, 1925), evidencing rights of the legal heir(s) / claimant(s), attested by the legal heir(s) / claimant(s) subject to verification with the original or duly attested by a notary public or by a gazetted officer; OR Copy of Letter of Administration OR Copy of Court Decree OR Copy of Probate* of Will(*Probate of Will shall be only insisted on, if applicable in terms of Indian Succession Act, 1925) OR Copy of Will OR Copy of Legal Heirship Certificate or its equivalent certificate issued by a Competent Government Authority duly attested by a Notary Public or by a Gazetted Officer or attested by the legal heir(s) / claimant(s) subject to verification with the original to be accompanied with a notarized Indemnity Bond and No objection from all the legal heir(s) / non-claimant(s) stating that they have relinquished their rights to the claim for transmission of securities duly attested by a notary public or by a gazetted officer
7. In case of non-availability of documents mentioned in Point No. 6, the following shall be submitted along with documents mentioned in Point No. 1 to 5;
   • Notarized Indemnity Bond made on non-judicial stamp paper of appropriate value from all legal heir(s) / claimant(s) to whom securities are transmitted
   • No Objection Certificate(s) from all the legal heir(s) / non-claimants, clearly relinquishing their rights to the claim for transmission of securities or Copy of Family Settlement Deed duly executed by all legal heir(s), duly attested by a notary public or by a gazetted officer [as an alternate to No objection certificate(s)

Transmission – Legal Heir More than 15 lacs holdings :

Transmission Form duly filled & Signed by Legal Hier/’s

1. Original Death Certificate or copy of the death certificate duly attested Notary Public/Gazette Officer/Original, In case Death Certificate issued in abroad then it must be attested before/by Indian embassy/Indian Consulate
2. Self-attested PAN copy of legal Heir/’s
3. In case demat account is with another DP then Client Master List (CML copy) in crystal Format
4. A notarized affidavit, from all legal heir(s) made on non-judicial stamp paper of appropriate value, to the effect of identification and claim of legal ownership to the securities; (in case the legal heir(s)/claimant(s) are named in any of the Succession Certificate or Probate of Will or Will or Letter of Administration or Legal Heirship Certificate (or its equivalent certificate), issued by a competent Government Authority, an affidavit from such legal heir(s)/claimant(s) alone shall be sufficient)
5. Copy of the Succession Certificate (in terms of the Indian Succession Act, 1925), evidencing rights of the legal heir(s) / claimant(s), attested by the legal heir(s) / claimant(s) subject to verification with the original or duly attested by a notary public or by a gazetted officer; OR Copy of Letter of Administration OR Copy of Court Decree OR Copy of Probate* of Will(*Probate of Will shall be only insisted on, if applicable in terms of Indian Succession Act, 1925) OR Copy of Will OR Copy of Legal Heirship Certificate or its equivalent certificate issued by a Competent Government Authority duly attested by a Notary Public or by a Gazetted Officer or attested by the legal heir(s) / claimant(s) subject to verification with the original to be accompanied with a notarized Indemnity Bond and No objection from all the legal heir(s) / non-claimant(s) stating that they have relinquished their rights to the claim for transmission of securities duly attested by a notary public or by a gazetted officer.

Key points to check before raising Transmission Request.

1. Affidavit is mandatory from all legal heirs or claimants INDIVIDUALLY irrespective of the holding value below or above 15 lacs. For example, if there are 3 legal heirs, all three legal heirs needs to give separate affidavits. It cannot be combined into one.
2. Original death certificate or copy of the death certificate attested by the legal heir(s) or claimant(s) can be accepted subject to verification with the original, or copy of the death certificate duly attested by a notary public or by a gazetted officer.
3. In case the nominee/claimant/legal heir is a minor, copy of birth certificate is required
4. In case the nominee /claimant is a minor or of unsound mind, KYC of the Claimant Guardian is required
5. In case of any cancellation done on legal documents – Affidavit, Bond of Indemnity, No Objection letter or Nominee Indemnity, counter sign of notary along with notary stamp is required.
6. On Stamp Paper/ e-Stamp, the description or purpose of document should be mentioned. For example - in case if affidavit has been attached, then the description/purpose needs to be mentioned as AFFIDAVIT on stamp paper/ e-Stamp along with the notary stamp.

The bills are generated in the beginning of each month for the previous month.

Details of Bills :-

The bills contain the following details:

Summary of the bill for the period

1. Opening Amount due from you: This is the amount outstanding from the customer at the beginning of the billing period.
2. ICICI Bank Charges: This is the sum of all charges levied by ICICI Bank Demat Services for the billing period as per the schedule of charges.
3. NSDL/CDSL Charges: This is the sum of charges levied by NSDL/CDSL on ICICI Bank in respect of the account for the billing period as per the rates applicable for the period. This is payable in addition to the ICICI Bank charges as per the schedule of charges.
4. Goods and services Tax (GST): GST will be charged as per the prevaling rates.
5. Payments received from you: This is the sum of amounts received from the customer during the billing period. Payments received after the billing period will be reflected in the next bill.
6. Credits given to you: This is the sum of credits given to the customer during the billing period. Credits given after the billing period will be considered in the next bill.
7. Net payable by you: This is arrived as: Opening Balance + Total Charges for the period - Receipts Credit Notes.
8. Please pay: This is the amount payable by the customer.

Mode of recovery

Direct Debit

If you hold an ICICI Bank account and have given a mandate for recovery of charges from such account, the charges are recovered directly from your bank account on or after the due date.

ECS

If you hold a bank account with a bank other than ICICI Bank and have given a mandate for recovery of charges from such account, the charges are recovered directly from your bank account on or after the due date.

ICICI Bank reserves the right to charge interest @24% p.a. on amounts remaining outstanding after the due date.

If you want to close your demat account, you need to make a request for it in the prescribed form. The account closure form is available at any ICICI Bank Branch providing Demat services. Please submit the duly filled-up form at the nearest ICICI Bank Branch providing demat services.

Before submitting the form, please ensure that:

• EITHER there are no holdings in the account OR you have requested transfer of all the holdings present in the account in the account-closure form
• You have paid all your dues.

Demat Closure Form

You can request for the following through the below forms :

• Change in Correspondence Address - For Individuals

• Change in Correspondence Address - For Non Individuals

• Change of Bank Details for receiving dividend

• Subscription/Unsubscription/Update Form for Mobile Alerts/ Statements

1. Change of Address

Proof of Address (To be taken for primary account holder):

Original Verified Documents (OVD) are acceptable:

• Identification Number (UID) (Aadhaar)
• Passport Number & Expiry date
• Voter ID Card
• Driving License & Expiry date
• NREGA Job Card
• Letter issued by NPR

Verified copies of

• Utility bill which is not more than 3 months old of any service provider (electricity, landline telephone, piped gas, water bill);
• Bank account or Post Office savings bank account statement;
• Documents issued by Government departments of foreign jurisdictions and letter issued by Foreign Embassy or Mission in India
• Identity card/document with address issued by any of the following: Central/ State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, etc., to their Members.
• Self-declaration of High courts/Supreme court judges, giving the new address in respect of their own accounts.
• For FII/Sub account, Power of attorney given by FII/Sub account to the custodians (which are duly notarized and/or apos-tilled or consularized) that gives registered address should be taken.
• Proof of address in name of spouse may be accepted.
• Registered lease or Sale agreement/ Flat maintenance bill / Insurance copy / Ration card / Latest Property tax
• Bank Statement / Passbook (Not more than 3 months old – as on date of receipt of documents)

In case you are submitting the bank statement as address proof then depending on the type of Bank Statement issued the following checks must be done:

1. Original Bank statement: The original bank statement is printed on the stationery of the bank, carries logo & name of the bank, displays the name and address of the Client.
2. Copy of Bank statement: Bank official shall verify the photocopy of the bank statement submitted with the corresponding original.
3. Original Bank statement on plain paper (Computer generated): The bank statement clearly mentions the name and address of the Client. The bank statement is duly attested (signed and stamped) by the authorised official of the bank mentioning the name and designation of such authorised official. Obtain a cancelled cheque leaf in original OR a photocopy of cheque and the authorised official of Bank should verify the same with the original cheque.
4. Bank statement issued in electronic form: Print out of the bank statement clearly mentions the name and address of the Client.Submit a cancelled cheque leaf in original OR a photocopy of cheque with the name of the Client pre-printed on it. However, in case of a photocopy, it can be accepted provided the authorised official of Bank verifies the same with the original cheque.

2. Change of Bank Details:

Customers to update details of their Bank Account for Debit of demat charges and Credit  of dividend, interest, IPO credits etc. For modifying the details in the demat account, customer to submit the attached Change in Bank Details Form.

Customers need to ensure that nomination is there in their demat accounts. Nomination is currently mandatory for all HNI customers. The same is strictly advised by the Bank at the time of Demat account opening.

The customer should ensure that the nominee / legal heir has a demat account. If the legal heir has a demat account with us they should keep the same active as per all regulations.

In case the nominee is an NRI, the nominee/heirs would require opening a Non-PINS- Non-repatriable demat account.

Please find enclosed the details of KYC requirement a NRI needs for opening a 3-in-1 (Trading-Bank-Demat a/c) demat account with our bank and for applying PAN card.

Transmission of Shares (where nomination is in place)

KYC documents Guidelines for PAN

The nominee shall request the Depository Participant (DP) in writing along with a certified true copy of the death certificate (or a duplicate copy of the death certificate if original lost or misplaced) issued by the competent authority to transmit the securities covered by the nomination to the account of the Nominee, held with any Depository.

Once the shares are transmitted to the NRI account (Non-PINS-Non-repatriable) of the legal heir, he can liquidate these shares in the secondary market without PINS/ RBI permission. PINS approval is not required for selling inherited shares. PINS approval will be required only for transaction in secondary market.

(The guidelines in FEMA states that NRI can hold, own, transfer security, if such security was acquired , held or owned by such person when he was resident in India or inherited from a person who was resident in India. Therefore NRI does not require RBI permission to hold and transfer of shares , acquired by inheritance through transmission of shares.)

Since in the instant case the shares will be held on non-repatriable basis, the sale proceeds of such shares will get credited into NRO bank account. Further as per the FEMA (Remittance of Assets) Regulation, 2000, NRI can remit an amount, not exceeding US $ 1 million per financial year out of the balances held in NRO accounts/ sale proceeds of assets/the assets in India acquired by him by way of inheritance/ legacy on production of documentary evidence in support of acquisition inheritance or legacy of assets. Also, for remitting any higher amount than permissible, application to RBI is required to be made along with other documentary proofs & other requirements as specified in the said regulation.

Guidelines to nominees / legal heir if the above process is not followed

The legal heir's or the legal representative's of such securities shall make an application to the Depository Participant (DP) to transmit the shares lying in the account of the deceased to the account of the legal heir’s or legal representatives.

The legal heir's or the legal representative's of such securities shall make an application to the DP in the specified Transmission form along with the following documents,

i) A copy of the death certificate duly notarised.

ii) A copy of the Succession certificate duly notarised or an order of a court of competent jurisdiction where the deceased has not left a Will;

OR

iii) A copy of the Probate or Letter of Administration duly notarised.

Transmission Form

If the legal heir's or the legal representative's express inability to produce either of the documents mentioned under (ii) and (iii) above, and the market value of the securities held in each of the account of the deceased as on the date of application for transmission does not exceed Rs. 5, 00,000/- then the DP shall process the transmission request on the basis of the following documents:

i) Request for transmission in specified Transmission Form

ii) Copy of the death certificate duly notarised

iii) Letter of Indemnity duly supported by a guarantee of an independent Surety acceptable to the Participant, made on appropriate non judicial stamp paper

iv) Affidavit made on an appropriate non judicial stamp paper

AND

v) No Objection Certificate(s) from all legal heirs who do not object to such transmission.

The Depository Participant shall ensure that the documents submitted by the legal heir's or the legal representative's are in order and shall then effect a transfer of the balances to the Client account of the legal heir's or the legal representative(s). After effecting the transmission, the DP shall close the account of the deceased.

The guidelines on process of liquidation of securities in the secondary market & repatriation of sale proceeds of such shares are same that are mentioned above.