IND NSD Registering Power of Attorney

On Jun. 18, IND NSD enhanced system re modification of POA/DDPI.

  • IND NSD issued a circular on registration/de-registration of power of attorney (POA) or demat debit and pledge instruction (DDPI), re changes in client modification module.
  • Follows IND NSD Nov. 2023 issued circular on complying with requirements, #134445.
  • Description of Changes
  • Further changes have been implemented in the Client modification/download module in the local DPM system; file formats are enclosed as annexures, as stipulated.
  • Local DPM system will be enhanced to mandatorily capture date of request received from clients for modifying/deleting POA/DDPI holder(s) from end of day, Jul. 29, 2024.
  • No change in client creation upload; for cases where POA/DDPI registration request is received along with client creation, registration date is same as client creation date.
  • Effectiveness
  • Participants shall make necessary changes in their back-office system by Jul. 26, 2024.

Regulators IND NSD
Entity Types B/D; Depo
Reference Cir NSDL/POLICY/2024/0086, 6/18/2024
Functions Financial; Operations; Reporting; Settlement
Countries India
Products Clearing; Custody; Securities
Regions AP
Rule Type Final
Rule Date 6/18/2024
Effective Date 7/26/2024
Rule Id 216510
Linked to Rule :134445
Reg. Last Update 6/18/2024
Report Section International

Last substantive update on 06/24/2024