Financial Daily from THE HINDU group of publications
Friday, Sep 30, 2005
Financial Daily from THE HINDU group of publications Friday, Sep 30, 2005 |
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Markets
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Financial Services NSDL's cut in fees takes effect from tomorrow Our Bureau
Kolkata , Sept. 29 THE new fee structure mooted by National Securities Depository Ltd (NSDL) will be effective fromOctober 1. It has decided to cut the settlement fee charged to depository participants (DPs) from Rs 8 to Rs 6 per debit instruction. The corporate action fee charged to issuers will also stand reduced from Rs 8 to Rs 6 per record. This, NSDL has stated, is a 25 per cent reduction, done in line with its policy to trim charges commensurate with increase in volumes. Last year, it had cut settlement fee, bringing it down to Rs 8. At the moment, the depository has over 69 lakh investor accounts, a marked increase from what it had in its records a year ago. This is being seen as a result of the current upsurge in the equity market, leading to the opening of fresh investor accounts and new requests for dematerialisation. Data provided by NSDL suggest that it has 217 DPs, providing service at 2,870 centres. More than 1.3 lakh investor accounts have debt instruments in them.
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