Axis Bank is a registered member (Depository Participant) of NSDL. In this system, physical security holdings are converted into electronic (or in other words, dematerialized) holdings. Axis Bank has been enrolled as a Depository Participant by the NSDL - India's first depository. You can avail of all the depository-related services by just opening an account with NSDL through Axis Bank.
Transfer of shares and settlements
Transfer and settlements have never been easy as it is under the depository system. All that is required is an instruction slip from you. If you are selling securities then it has to be a delivery instruction slip. If you are purchasing securities it has to be a receipt instruction slip or standing instructions for credit.
Receipt of Corporate Benefits
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.
Dematerialisation of shares
At your request we arrange to convert your physical holdings into electronic form. To do this you would require opening an account with NSDL through us called "Beneficiary Account" in the name and style in which the shares are held and lodge the share certificates with us accompanied by a dematerialisation request form, separate for each scrip. You are required to only make sure that NSDL has admitted that scrip for dematerialisation. An upto date list will be provided to you which will be constantly updated.
Rematerilialisation
You have the option to convert your electronic shares back to physical shares.
Pledge-Hypothecation
You can also avail loans against your electronic shares. This process is also much faster than in the case of physical shares.
Freezing or Locking of Accounts
You can also keep your accounts frozen or locked for the span of time desired by you. No debits from your account will be made during this period.
