What will happen to my PoA authorisation from September 1st, 2022?
From September 1st, 2022 the Demat Debit and Pledge Instruction (DDPI) will replace PoA authorisation. DDPI is a document that authorises a stockbroker and Depository Participant to access an investor’s demat account solely for:
- Transfer of securities held in the client’s demat account towards exchange-related deliveries/settlement obligations.
- Pledge/Re-pledge of securities in favour of a Trading Member (TM)/Clearing Member (CM) for the purpose of meeting margin requirements.
- The DDPI serves the same purpose as the PoA authorisation.
- It is not compulsory for an existing client to issue a DDPI. Existing POAs shall continue to remain valid till revoked by the client.
- It is a voluntary document and shall be executed only if a client provides their consent for the same.
- Clients can complete trades either using the PoA/DDPI or by issuing a DIS/e-DIS.
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