The Hindu Business Line : `No disruption to SHCIL services despite Mumbai rains'

THE incessant rains in Mumbai during last week might have had cascading troubles of connectivity failure, power interruption and loss of communication link, forcing several organisations to fail in offering services to their customers.

But, among the exceptions was - Stock Holding Corporation of India Ltd (SHCIL), the country's leading depository participant.

Though life in the country's financial capital came to a standstill during July 26 to 28, SHCIL claims to have successfully rendered uninterrupted client services.

According to the SHCIL Vice President, Mr K.S. Murthy, the corporation had overcome these problems thanks to its business continuity plan, which ensured timely action to seamlessly maintain service levels throughout the country.

"This has significance as failure to deliver shares on time leads to losses to retail investors and great care was taken to avoid any such event. Safety, security and certainty are the hallmark of the services rendered by SHCIL," he said in a press release on Tuesday.

"All this at a time, when even the stock exchanges postponed the pay-in of securities and declared holiday on Thursday, July 28," Mr Murthy added.

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