The development of the Indian capital market has witnessed significant improvements in recent years as a consequence of inventive usage of modern technology. Because of this, the demand for account status information has skyrocketed. There is a requirement for Investors to get the updated Demat account information at a much faster rate than ever before in the shortened settlement cycle era.
In order to assist a CDSL demat account holder in easily adapting to the fast-reducing settlement cycle, CDSL has introduced easiest, its Internet-enabled services to empower a demat account holder in managing his securities whenever and wherever he wants in an efficient and convenient manner and secure environment. CDSL’s internet-based facility offers electronic access to securities information and safe transaction execution and allows CMs of BOs to send off-market, on-market, inter-depository, and early pay-in debit orders from their demat account. It allows investors to transfer shares from one demat account to another through the internet. This transfer might be performed in the form of an off market transfer as a gift or for any other reason. Furthermore, a subscription to easiest has access to all of easi’s features and advantages instantly.
Features of easiest
- Easiest enables a BO/CM to enter debit/credit instructions on the Internet.
- It allows a BO/CM to execute debit/credit orders directly from their demat account through the internet.
- The easiest upload facility enables a CM/BO to submit multiple transactions in a single file.
- You may use your easiest login to keep track of company announcements for the stocks in your demat account.
- It provides the benefits of easi.
- If your DP has signed up for the easiest facility, you can register for easiest with your easi account by selecting ‘Upgrade BO ID to easiest’.
- You can monitor corporate announcements for the securities held in your demat account through your easiest login.
- You can add ISINs that are not held in your demat account.
- It provides the upload facility. The upload facility is available to any BOs or CMs who have selected the account of choice login only option in Easiest. To get their upload permissions activated, a BO or CM would need to approach their DP.
Types of transfers in Easiest
Two types of account transfers are available on easiest
- Trusted account Transfers
It allows securities to be transferred from a BO account to any four CDSL demat accounts chosen by the BO and pre-notified by the BO.
- Account of choice Transfers
Allows stocks to be transferred from a BO account to any other demat account, including CM settlement accounts. A digital signature is used to validate all on-market, off-market, early-payin, and interdepository transactions. Any TCS RA (Registering Authority) should be able to provide you with a digital signature (Tata Consultancy Services). CDSL, as one of TCS’s RAs, also offers Digital Signature for a fee. Only for the purpose of submitting transactions on the easiest, CMs would be able to register for the account of their choosing.
Registration on Easiest
- Log in to the CDSL website at www.cdslindia.com and go to the “Register Online” option on the homepage.
- Choose the facility you want to register for (easi/easiest).
- Fill up your information, such as your Login–Id, Email–Id, and so on.
- Fill out the registration form and print it.
- Submit the completed registration form to your DP, including with signatures from all account holders.
- The password will be sent to your email address.
- You may start utilising easi/easiest by going to CDSL’s website www.cdslindia.com and entering your “User name” and “Password.”
Transfer of shares
CDSL allows investors to transfer shares from one demat account to another through the internet. Transfers utilising Easiest services are only possible if the transferee’s account is a ‘Trusted’ account. With a 16-digit BO Id, the investor may input the trusted account data. Within 24 hours, the trusted account is enabled.
Without submitting any physical papers, it is now possible to create a trading and demat account online. Transferring stocks from one demat account to another is also feasible. Investors frequently create several demat accounts which makes it extremely difficult to keep the track of all of them. Transferring shares from one demat account to another, or combining shareholdings into a single demat account, assists investors in streamlining records, providing a full view of investment results.
POINTS TO REMEMBER
1. The ‘EASIEST’ gateway allows you to add up to four trusted accounts.
2. There will be no change in beneficial ownership or capital gains as a result of this transfer of shares.
3. A fee may be charged by the broker for completing the transfer request. If, on the other hand, the old account is being closed, there will be no cost.
4. Service charges are levied by the DP for off the market transfer of shares including stamp duty.
To transfer the shares, there are both online and offline ways to do that. The account holder must have a Debit Instruction Slip (DIS Booklet) given by their Depository Participant in order to transfer (DP). Remember that the shares must be transferred with their ISIN number.
Follow the below mention process to do that
- If you have CDSL shares, you can transfer them online using the ‘EASIEST’ platform.
- Transfers utilising Easiest services are only possible if the transferee’s account is a ‘Trusted’ account.
- To use this platform, go to https://web.cdslindia.com/myeasi/Home/Login and enter your existing demat account information.
- The next step is to add a trusted account, which is essentially the demat account to which the shares will be transferred.
- After 24 hours after successful account addition, you can transfer securities from the old account
- You can transfer shares off-market if they are kept with NSDL or CDSL depositories.
- Complete a Delivery Instruction Slip, often known as a DIS.
- The ISIN number of the shares to be transferred, the name of the business (security), the demat account, and the DP ID of the account to which the shares are being transferred are all data that must be filled out on the form.
- For further processing, you must send this paperwork to the previous broker’s office.