Financial Daily from THE HINDU group of publications
Tuesday, Aug 02, 2005
Financial Daily from THE HINDU group of publications Tuesday, Aug 02, 2005 |
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Markets
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Financial Services NSDL cuts settlement fee by 25 pc Our Bureau
Mumbai , Aug 1 NSDL has decided to reduce the settlement fee charged to depository participants (DPs) and corporates by 25 per cent from October 1. The charges to DPs have been reduced from Rs 8 to Rs 6 per debit instruction and the corporate action fee charged to issuers has been cut from Rs 8 per record to Rs 6, according to an NSDL press. NSDL had reduced the settlement fee from Rs 10 to Rs 8 from January 1, 2004. Further, no settlement fee for credits and no custody fee is payable by the investors, it added. In the last one year, 1.7 million new accounts have been opened with NSDL; the total number of accounts has crossed 6.6 million. The total value of securities dematerialised with NSDL is over Rs 16,80,000 crore.
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