Sebi eases process of securities credit to demat accounts from April 2
Markets regulator Sebi has streamlined the process of crediting securities to dematerialised accounts by doing away with the requirement of letter of confirmation, a move that will reduce the period of transfer of securities from 150 days to 30 days.
Markets regulator Sebi has streamlined the process of crediting securities to dematerialised accounts by doing away with the requirement of letter of confirmation, a move that will reduce the period of transfer of securities from 150 days to 30 days.
In a circular issued on Friday, Sebi said presently listed companies and registrars to an issue and share transfer agents (RTAs) issue a letter of confirmation (LOC) to investors, which is submitted to the depository participant for credit of securities.
This process generally takes around 150 days.
