ABML OA Announcement

Stocks and securities

Stocks and securities

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X

Stocks and securities

Stocks and securities

X
X

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):

  1. Transferring securities to meet pay-in / settlement obligations of clients
  2. 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

Attention Investor
1. KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.          2. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.          3. Prevent Unauthorized Transactions in your demat account:Update your Mobile Number with your Depository Participant/ Stock Broker. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL / CDSL on the same day………. issued in the interest of investors.          4. For Stock Broking Transaction 'Prevent unauthorised transactions in your account --> Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day...Issued in the interest of Investors.          5. Investors should be cautious on unsolicited emails and SMS advising to buy, sell or hold securities and trade only on the basis of informed decision. Investors are advised to invest after conducting appropriate analysis of respective companies and not to blindly follow unfounded rumours, tips etc. Further, you are also requested to share your knowledge or evidence of systemic wrongdoing, potential frauds or unethical behaviour through the anonymous portal facility provided on BSE & NSE website.

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