On Nov. 17, IND NSD enhanced e-DPM system for demat requests.
IND NSD announced enhancement in the e-DPM system to upload the specified dates in respect of demat and remat requests of clients processed by participants.
Specified Dates
The relevant dates include the date on which the demat or remat request documents were dispatched to, or the date on which rejection letter was received by the issuer.
As well as the date on which documents received by the issuer are sent back to clients.
Participants are advised to make the necessary changes to their back office systems.
Effectiveness
The enhancement will be made available from Dec. 1, 2023.
Dec. 2023 Upload Procedure
On Dec. 6, 2023, IND NSD issued a detailed procedure for uploading demat and remat requests processed by participants according to the specified dates and its features.
Participants are requested to take note that the requirement of uploading these dates in e-DPM system for all demat/remat requests processed has been made mandatory.
The dates for demat/remat requests processed by participants/rejected by the issuer during a month should be uploaded in e-DPM system by 15th of the following month.
Document dated Dec. 6, 2023, received from IND NSD Dec. 7, summarized Dec. 11.
Apr. 2024 Operational Guidelines
On Apr. 10, 2024, IND NSD issued operational guidelines in relation to upload of dates in respect of demat as well as remat requests processed by participants.
Specified timeline for compliance re date on which demat/ remat request documents were dispatched to Registrar & Transfer Agent (also known as RTA)/ issuer.
In addition, specified date on which Dematerialization Request Number (DRN)/ Rematerialization Request Number (RRN) rejection letter was received; along with date when documents received for rejected DRN/ RRN were sent back to client.
Document dated Apr. 10, 2024, received from IND NSD Apr. 12, summarized Apr. 16.
Nov. 2024 Report Availability
On Nov. 11, 2024, IND NSD said reports to assist in identifying pending updates will be made available on e-PASS portal starting Nov. 29, 2024; reports will be updated daily.
Document dated Nov. 11, 2024, received from IND NSD Nov. 14, summarized Nov. 18.
