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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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FinFIRST Blogs
Re-materialisation is the process by which a client can get shares and securities held in a Demat Account converted into physical share certificates by submitting a re-materialisation request to its Depository Participant (DP) with whom they have a demat account. The DP will then start processing the request by entering the details in their system, which will block holdings to the extent of the remat request. The DP will then release the request to the concerned depository (NSDL/CDSL) and also send the Remat Request Form (RRF) received from the client to the Issuer / R&T agent. If the details are found satisfactory, the Issuer / R&T agent then prints the certificates, despatches the same to the client directly, and simultaneously electronically confirms the acceptance of the remat request to the concerned depository (NSDL/CDSL). Thereafter, the client's blocked balances are debited from the demat account.
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Features:
- A client can place the re-materialisation request of the dematerialised holdings at any point in time as per the requirement
- The re-materialisation process is expected to get completed within 30 days
- The securities sent for re-materialisation and physical share certificates and securities cannot be traded
Precautions:
- The client must submit a duly filled Re-materialisation Request Form (RRF) to its DP
Before initiating a re-materialisation request in a security, the client must ensure that they have sufficient free balances in that security in their demat account
Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.
