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Old 28th September 2016, 12:28 PM
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Default DP ID Of SBI Demat Account

I am planning to open an account in the State Bank of India (SBI) and want to open demat account want details about this services. Can you please tell About Demat Account service and what are the services I can avail from this also provide registered address of this Bank?
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Old 28th September 2016, 01:03 PM
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Default Re: DP ID Of SBI Demat Account

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company.

It is a government-owned corporation with its headquarters in Mumbai, Maharashtra

About Demat Account service:

Overview

(i) All the new demat accounts and Online Trading accounts will be opened in the books of SBI Cap Securities Ltd.

(ii) The existing demat accounts in the books of the Bank will continue to be maintained by the Bank.

Therefore, in new 3 in one facility, Savings/Current account will be held with SBI while

Demat and Online Trading account will be held in the books of SBI Cap Securities Ltd.

SBI is a Depository Participant registered with both National Securities Depositories Limited (NSDL) and Central Depository Services Limited (CDSL) and is operating its DP activity through more than 1000 branches.

Power Demat Account offers you the following features:

Features & Benefits of a Demat Account

Account Maintenance & Safe custody: Facilitates Maintaining Security Balance in electronic form

Dematerialization: Facilitates converting physical share certificate into electronic balances.

Rematerialization: Facilitates converting the electronic balances to physical (share certificate) form.

Account Transfers: Facilitates delivery/receipt of electronic balances consequent to market / off-market trades.

Pledge/Hypothecation: Facilitates blocking securities balance of borrowers in favour of lenders for obtaining Loans / advances against shares.

Initial Public offer: Facilitates faster and direct credit of security balances into DP account on allotment through public issue of companies

Disbursement of corporate benefits: Facilitates faster and direct credit of security balance into DP account on account of non-monetary corporate benefits as bonus and rights issues.

Security Lending: Facilitates earning extra income on your dematerialized holdings by the way of securities lending.

Contact:

State Bank of India
State Bank Bhavan, Madam Cama Road
Mumbai-400021.

SBI Office Phone Number: +91-22-22029456
SBI Office Fax Number: +91-22-22742431
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