Sharekhan DP ID is a depository participant with both NSDL and CDSL, the main two depositories of the Indian share market.
The depository is where money related securities are held in dematerialized structure. Depository Participant is portrayed as an Agent of the depository.
They act as a link between the depository and the investor. An agreement is made between Depositories and DPs under the Depositories Act.
As per the Act’s guidelines, the DP can offer services only after receiving a certificate from SEBI.
The DP ID is a 16 digit number made by combining two different IDs, i.e., the first eight digits will be of the Depository participant (Sharekhan). The other eight digits will be the Client ID provided to the client while making an Account.
Lets clear it with an example;
If the Sharekhan Id is: 15748963
The client id is 59876354
Then the Demat account no will be 1574896359876354
Sharekhan is a depository participant with bot CDSL and NSDL. At the time of account opening, you can pick one of the depositories. The Sharekhan ID will depend on which depository you have an account with
Sharekhan DP IDs for NSDL and CDSL are as follows:
NSDL DP ID: IN300513
CDSL ID: 12036000
Sharekhan NSDL DP ID
NSDL represents National Securities Depository Limited. It is India’s oldest and biggest depository. The word depository refers to the association implied for holding and safeguarding the securities that are exchanged in the securities market.
Sharekhan DP ID is the unique identification of 8 digits numeric basically, the first two initials are alphabets, and the remaining six digits are in numeric form.
NSDL is encouraged by IDBI, NSE, UTI. Sharekhan NSDL DP IDc is a mixture of the customer ID and Demat account ID, such as IN300513.
NSDL offer code and the first two initials are alphabets for the depository to make it simple for the client to know for which depository they are working with.
The Sharekhan NSDL DP ID is IN300513
Sharekhan CDSL DP ID
CDSL is another depository that works for BSE and is encouraged by SBI, Bank of India, BOB, HDFC, Axis, and the Union Bank of India.
The main concentration of CDSL is to provide safe, beneficial, reliable, and secure depository services.
CDSL started its business from February 1999 onwards after acquiring earlier leeway from market guard dog SEBI.
Sharekhan CDSL DP ID presents a total of 8 digits number and no alphabet like NSDL.
The Sharekhan CDSL DP ID is 12036000
A depository is a place where financial securities are held in a dematerialized form. The two main depositories of India are NSDL and CDSL.
Their main concern is to transfer physical securities from the electronic mode.
CDSL or NSDL allot DP IDs to the brokerage firms, and then these firms provide the Account number to the user who wants to open with that firm.
NSDL provides DP ID with the first two initials in an alphabetic manner and the other in numeric form.
In contrast, CDSL provides the whole in numeric form. We hope this article has helped in solving your queries in regard to Sharekhan DP ID.
Want to open a Demat Account, please refer to the form