How to Register for CDSL Easiest Account: A Detailed Guide
Many investors and traders have multiple demat accounts, thanks to the amazing benefits and host of discounts offered by stockbrokers.
Published on 06 February 2023
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However, this means that the shareholding has been divided into different apps, which have robbed them of the chance to view everything on an integrated platform and keep a check on their earnings through investment. But, this can be easily solved if you transfer your shares from one demat account to another online.
For this, investors will have to undertake CDSL Easiest registration. CDSL Easiest has been launched by the Central Depository Services Limited, which helps you access your demat account details easily from anywhere by making use of the CDSL website. Once you complete the CDSL Easiest registration process, you are given a login id and a password which you can use at the time of logging in.
Let us get into the details of what is CDSL Easiest and how to register for CDSL Easiest.
What is CDSL Easiest?
The full form of EASIEST is Electronic Access to Securities Information and Execution of Secured Transaction. Each time you initiate a buy or sell transaction for your shares, there are a number of intermediaries that the transaction has to go through. The first one is your DP(Depository Participant), who is also your broker, and also to the stock exchange like BSE or NSE.
Since the beginning of online trading with the help of Demat accounts, central depositories have also become a part of the process. The centralised depository keeps track of the ownership of the shares in a dematerialised setting. In India, the two main centralised depositories are NSDL and CDSL. Although a sell or buy transaction might be visible to you on your screen, the process of clearing takes about T+2 days. T refers to the day on which you initiated the transaction.
After you initiate the transaction, the following steps take place:
First, the transfer of shares takes place to the account of your DP.
Then, the clearance of funds happens from your bank account.
Finally, the transfer of shares to your Demat account takes place.
Sometimes, it happens that the transfer of shares to your Demat account does not take place, and the shares are kept in the pool of your DP. This means that although you have already paid for these shares, these are still not owned by you. This is where the CDSL Easiest can come to your rescue. It will help you keep a check on your Demat account details to ascertain if the trades that have been executed by you are showcasing your ownership or not. Also, with the CDSL Easiest, you can transfer your shares from one Demat account to another easily.
How to Register to CDSL EASIEST?
Right before you begin the CDSL EASIEST registration work, you need to keep all the following information beside you:
CM [Clearing Member] ID, which is your broker’s ID or 8-digit DP or Depository Participant ID.
Your 8-digiT BO [Beneficial Owner] ID
When you have all the above-mentioned information, you can now begin the registration work for CDSL EASIEST. These are the steps you should follow:
Visit the CDSL website, go to the “Register Online” section and then choose “EASIEST” from the option list.
You have to enter the DP [Depository Participant] ID and the BO [Beneficial Ownership] ID. You also need to provide your Email ID and contact number. After that, you will get an OTP [One Time Password] on the registered number.
Provide the OTP that you got, and then verify your contact number.
After that, when you provide all your account details, the portal will ask you to select a type of account. You can choose between Account of Choice Transfer and Trusted Account Transfer.
If you chose the “trusted account transfer,” you must provide your BO number of the account.
The next option you can go for is “Group.” This will be perfect for you if you CDSL registered accounts with various other brokers.
After you press the “Submit” button, your CDSL EASIEST registration work will be complete.
What are the Benefits of CDSL EASIEST Registration?
Under this section, you will learn about the benefits of CDSL EASIEST registration. Let us check them out:
It will enable you to view all the statements of your existing holdings. You will get to see the monetary statements of all the transactors of the Demat accounts for the previous 365 days. You are free to print or download the details.
When you have many Demat accounts, the CDSL EASIEST registration will enable you to view all the statements of all the Demat accounts. You just have to log in from the CSDL website.
By using the CSDL EASIEST registration process, you can transfer all the security to the other Demat accounts.
You can view all the joined account statements, and you can easily print all your holding statements according to your holding valuation.
You don’t have to offer an instruction slip to the depository participant for the debt transactions.
One Last Thought
The CDSL EASIEST registration work is ideal for all those individuals who have a Demat account. The registration procedure is pretty simple and will also not take much time to complete. Be sure to follow all the instructions properly and gather all the documents before doing the registration work.
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The stock market has witnessed a fascinating evolution. From close to a hundred years of traders ardently shouting on the trading floors to buy and sell shares, the capital market has become more accessible to investors with the introduction of a demat account in India.
Whether it is to hold, buy, or sell shares in the capital market, an investor needs to open a Demat account and a trading account with their chosen depository participant (DP). A Demat account allows investors to hold their shares and securities. For trading in India, however, an investor needs to open a trading account first. Before they begin trading in India, every investor needs to acquaint themselves with the different types of trading accounts and the types of Demat accounts that are catered to address the varied demands of the investors.
In India, a Demat account can be opened with a depository participant (DP). The National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL) are the two depositories in India that offer depository services to market participants. These depositories have multiple depository participants that offer Demat accounts to people.
There are many benefits of CDSL Easiest Registration; these are:
You can see multiple Demat accounts when you log in to the CDSL portal, which is beneficial for you.
You can transfer any security from one account to another easily.
You can view the financial statements of all your transactions from the Demat accounts that you have done in the last year. This can be printed.
In the case of debit transactions, you do not need to give an instruction slip to your Depository Participant.
Yes, you can have multiple Demat accounts, but each account needs to be with a different Depository Participant. You can have only one account with one DP. If you want to open another account with the same DP, the account holder needs to be different.
CDSL Easiest is an upgraded version of the CDSL Easi, and you will find options in the CDSL Easiest that the CDSL Easi does not have.
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How Does Demat Account Work?
The stock market has witnessed a fascinating evolution. From close to a hundred years of traders ardently shouting on the trading floors to buy and sell shares, the capital market has become more accessible to investors with the introduction of a demat account in India.
Whether it is to hold, buy, or sell shares in the capital market, an investor needs to open a Demat account and a trading account with their chosen depository participant (DP). A Demat account allows investors to hold their shares and securities. For trading in India, however, an investor needs to open a trading account first. Before they begin trading in India, every investor needs to acquaint themselves with the different types of trading accounts and the types of Demat accounts that are catered to address the varied demands of the investors.
In India, a Demat account can be opened with a depository participant (DP). The National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL) are the two depositories in India that offer depository services to market participants. These depositories have multiple depository participants that offer Demat accounts to people.
There are many benefits of CDSL Easiest Registration; these are:
You can see multiple Demat accounts when you log in to the CDSL portal, which is beneficial for you.
You can transfer any security from one account to another easily.
You can view the financial statements of all your transactions from the Demat accounts that you have done in the last year. This can be printed.
In the case of debit transactions, you do not need to give an instruction slip to your Depository Participant.
Yes, you can have multiple Demat accounts, but each account needs to be with a different Depository Participant. You can have only one account with one DP. If you want to open another account with the same DP, the account holder needs to be different.
CDSL Easiest is an upgraded version of the CDSL Easi, and you will find options in the CDSL Easiest that the CDSL Easi does not have.
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Further to the above, in light of the recently notified Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011. (Hereinafter referred to as the Rules)
The following shall be deemed to be sensitive information :
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In order to provide enhanced trading experience to the client.
In order to provide any further information to be provided to regulators.
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