SEBI / Exchanges / Depositories have introduced limited purpose Demat Debit and Pledge Instruction (DDPI)* in the place of Power of Attorney (PA)* with effect of 1st of July 2022 (or any extension therefor):
- Transferring securities to meet pay-in / settlement obligations of clients
- Pledging securities to meet margin obligations of clients
- DDPI can be executed online (using Aadhaar eSign) as against physical execution of POA.
- All new clients have been given the option of executing DDPI document as part of the eKYC journey.
- Existing clients (DIS / non PA) can also execute DDPI. A separate link would be shared to execute DDPI by existing customers through SMS / Whatsapp/Mail.
- The Link will also be posted on our website and a separate circular would be issued notifying the link details.
DDPI like the POA is a voluntary document and it is up to the client to decide on execution of DDPI document.
All clients who wish to authorise ABM to transfer securities to meet pay-in / margin obligations with effect from 01.07.2022 will have to execute only DDPI document and as a result - any POA received at H0 after 28.06.2022 will not be accepted as the client always has got the option of execution of DDPI document in place of POA.
BANCA customers may also execute DDPI subject to confirmation by NSDL / CDSL on the acceptance of files at Bank DP.
For disclaimer, please refer: https://bit.ly/3DFVak6
Team ABM