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Depository Services

Axis Bank is a registered member of NSDL and is enrolled as a Depository Participant. You can avail of a host of depository services in India by just opening an account with NSDL through Axis Bank. If you are holding physical share certificates, you can convert them into electronic (dematerialized) holdings through Axis Bank’s Depository Service. Axis Bank’s Depository Services holds your dematerialized shares in electronic form, offers settlement of trades, electronic credit of public offerings, rights, bonus shares, etc. You can avail a host of depository services benefits by just opening an account with NSDL through Axis Bank. Some of the depository services benefits include securities entitlements like credit of bonus and rights to your Demat Account electronically. Even securities entitlements like bonus and rights can be credited to your Demat Account electronically. All you have to do is choose the right option in the share application form. Cash benefits like dividends and interest will, however be forwarded to you directly and not through the depository. However, MICR code details in the Demat Account would ensure credit of cash corporate action to your respective bank account.

As per NSDL guidelines given in its circular reference no. NSDL/POLICY/2021/0036 dated 7th April 2021 and CDSL circular reference no. CDSL/OPS/DP/POLCY/2021/152 dated 5th April 2021, it has been made mandatory to update the following 6 KYC attributes in the demat account of the clients:

Name
Address
PAN
Valid mobile number
Valid email-id
Income range

Further, NSDL / CDSL will be validating the email id and mobile number updated in the demat accounts by sending an email and SMS respectively maintained in the account.

All 6-KYC attributes have been made mandatory for new and existing accounts from August 1, 2021.

In case, the aforementioned details are not updated in any demat account, the said demat account will be considered as Non-compliant account; such accounts will be made inactive and no further debits will be allowed.

Demat account holders whose KYC attributes are not updated shall reach out to the branch for updating it.

Depository Services

Shares and Settlements Pledge-Hypothecation Conversion of Shares Lock Account

Shares and Settlements

If you are planning on transferring or settling shares, then all you need to do is sign up for Axis Bank’s Depository Services. You can avail of the most convenient way to transfer shares and settlements. All you have to do is submit the instruction slip. Ensure that you have the delivery instruction slip if you are selling securities and you have the standing instructions for credit when you are purchasing the shares.

Pledge-Hypothecation

Axis Bank is enrolled as a Depository Participant with NSDL. By opening an account with NSDL through Axis Bank, you can avail of a host of depository services in India such as Pledge-Hypothecation which allows you to avail loans against your electronic shares. The process is much faster than in the case of physical shares.

Conversion of Shares

You can avail of a host of depository services such as share conversion by opening an account with NSDL through Axis Bank. The share conversion services include the dematerialisation of shares and the rematerialisation of shares.

Dematerialisation of shares involves conversion of physical holdings into electronic form. You have the option to convert your electronic shares back to physical shares as part of the rematerialisation of shares.

Lock Account

The Depository Services provided by Axis Bank also comes with the option of locking your account. By the account lock feature, you can ensure that your account is frozen or locked for a span of time that is decided by you. So no debits would be made from your account during this period.

Regulatory Disclosures

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