Bajaj Finance Ltd.
To simplify the process of authentication while selling shares from Demat Account, and to make it more secure, Bajaj Financial Securities Limited (BFSL) has implemented TPIN based verification in accordance with Central Depository Services Limited (CDSL) norms.
With this, BFSL customers will be able to authenticate the sell transactions with a one-time sell authorization using a secured PIN which will be sent to them directly by CDSL. This added layer of security will ensure the shares in the investor’s Demat Account are handled securely.
Benefits of TPIN:
An investor opening an account with BFSL opens a trading account, which allows him to buy and sell shares on the stock exchanges (NSE, BSE), and a Demat Account with a depository, where the stocks are held electronically.
When a buy order of shares gets executed, the shares are received by BFSL from the exchanges on investor’s behalf and credited to his Demat Account. Similarly, when a sell order of shares is executed, BFSL debits it from the investor’s Demat Account and forwards it to the exchange.
However, to debit shares from investor’s Demat Account when a sell order is placed, Power of Attorney (PoA) is required; in the absence of which, customers would need to transfer shares by submitting a physical Delivery Instruction Slip (DIS) to the broker, before placing a sell order.
CDSL TPIN makes the Demat transactions safer by eliminating the need of PoA for the Demat Account. TPIN gives better control over authorizing the transaction in a Demat Account.
BFSL customers who haven’t submitted a signed (PoA) can sell their shares electronically simply by validating the TPIN. Additionally, customers can pre-authorize the sale of all the held stocks together; so TPIN need not be entered every time a sell order is placed. The authorization will be valid for a maximum of 90 days.
Process of Generating TPIN:
The TPIN will be directly communicated to the investors via SMS/email service by CDSL. Confidentiality will be maintained, and no other intermediary can know the TPIN. Alternatively, investors can generate TPIN using the CDSL link: https://edis.cdslindia.com/home/generatepin.
Bajaj Financial Securities Limited is a 100% subsidiary of Bajaj Finance Limited, offering a wide spectrum of capital market solutions that include Equity Trading (Delivery and Intraday), Derivative Trading, Mutual Funds, Margin Trading Financing (MTF) and Spread Financing. Our Clientele includes HNI/Ultra HNI clients and retail Online clients. Bajaj Financial Securities Limited is also a distributor of Mutual Funds.
Bajaj Financial Securities Limited is a registered member of NSE and BSE under the Equities and Derivatives Segment, and is also a depository participant at CDSL and NSDL.
To know more, please visit: https://www.bajajfinservsecurities.in