Amendments to Business Rules of NSDL - OTP for off-market transfer
Amendments to Business Rules of NSDL - OTP for off-market transfer

Amendments to Business Rules of NSDL - OTP for off-market transfer

On December 26, 2020, the NSDL issued a circular (NSDL/POLICY/2020/0163) regarding the amendments to the business rule 12.3.1 of the depository in the context of OTPs for off-market transfers.

The business rule in question states that the transfer of securities in respect of off market trades needs to be effected only upon the receipt of a duly filled in securities transfer instruction form from the client. This is applicable for delivery as well as for a securities transfer instruction form from the client for such a receipt. Such forms have been laid out in forms 12 and 14. Alternatively, a client is also allowed to give standing instructions to their DP(s) to credit the account.

In case of a joint account, any one of the account holders is allowed to provide the required consent via OTP.

Ready to invest with us?

Share your Name and Mobile Number with us and get started

  • +91|
scrollToTop