Stock Holding Corporation of India Limited (SHCIL) is an Indian custodian and
depository participant
In India, a Depository Participant (DP) is described as an Agent of the depository. They are the intermediaries between the depository and the investors. The relationship between the DPs and the depository is governed by an agreement made between t ...
, based in
Navi Mumbai
Navi Mumbai (), is a planned city situated on the west coast of the Indian subcontinent, located in the Konkan division of Maharashtra state, on the mainland of India.
Navi Mumbai is part of the Mumbai Metropolitan Region (MMR). The city is ...
,
Maharashtra
Maharashtra (; , abbr. MH or Maha) is a states and union territories of India, state in the western India, western peninsular region of India occupying a substantial portion of the Deccan Plateau. Maharashtra is the List of states and union te ...
. SHCIL was established in 1986 as a
public limited company
A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company ...
and is a subsidiary of
IFCI. It is also responsible for
e-stamping system around India. It is also authorised by Reserve Bank of India as Agency Bank to distribute and receive Govt. of India savings/relief bond 2003 along with nationalized banks.
Corporate structure
The Stock Holding Corporation has three subsidiaries:
* Stockholding Services Ltd (stock brokering services)
* StockHolding Document Management Services Limited (provides end-to-end document storage and digitization services)
* StockHolding Securities IFSC Limited (A SEBI registered intermediary operating out of GIFT IFSC, Gandhinagar, Gujarat, and catering to Eligible Foreign Investors (EFIs), FPIs and NRIs from FATF compliant jurisdictions as of now)
Operations
Domestic presence
SHCIL has over 200 branches and in 141 cities around India.
GIFT IFSC presence
SHCIL's subsidiary, StockHolding Securities IFSC Limited, is operating out of India's first International Financial Services Centre at GIFT City, Gandhinagar, Gujarat, catering to EFIs (Eligible Foreign Investors), FPIs & NRIs from FATF compliant jurisdictions as of now.
E-Stamping
The main
e-stamping facility was opened on 3 July 2008 in New Delhi, India and was inaugurated by Chief Minister
Sheila Dikshit
Sheila Dikshit () (née Kapoor; 31 March 1938 – 20 July 2019) was an Indian politician. The longest-serving Chief Minister of Delhi, as well as the longest-serving female chief minister of any Indian state, she served for a period of 15 yea ...
.
The goal of the e-stamp was to "prevent paper and process-related fraudulent practices" according to the SHICL chairman and managing director at that time, RC Razdan.
It implemented the e-stamping facility in five cities of
Gujarat
Gujarat (, ) is a state along the western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the fifth-largest Indian state by area, covering some ; and the ninth ...
– Ahmedabad, Gandhinagar, Surat, Rajkot and Baroda – as well as Bangalore, in March 2008.
Products and services
Stock Holding offers numerous financial services along three main branches: personal, corporate and custodial services.
Personal services
Some of the personal services they offer include:
* Demat Account
* Insurance
* Mutual Funds
* NPS (Retirement)
* GOI Bonds (Government of India)
* IPOs
* Stock Holding
GoldRush
A platform that allows users to buy gold online and is one of the only two ways to do so in India.
[url=https://economictimes.indiatimes.com/wealth/spend/another-gold-buying-option-gold-accumulation-plan-or-digital-gold/articleshow/61111637.cms?from=mdr , title="Here are two ways to buy gold online" , date=]
Corporate services
* Demat services for business
* CSGL services (government bonds)
* Trading accounts
* NPS accounts
* Bullion (gold and silver)
Custodial services
Custodial services include any safekeeping, administration, transaction and further activities done on behalf of a company by its custodian, and include:
* Fund accounting
* FDI (Foreign Direct Investment)
* Company Valuation
* Vaults
* Customized Reporting
* Electronic and Physical Safekeeping Services
* Clearing and Settlement Services
References
External links
Time Of India , Delhi to scrap stamp paper altogether
{{Financial services in India
Central securities depositories of India
Financial services companies based in Mumbai
Indian companies established in 1986
Financial services companies established in 1986
Holding companies established in 1986
1986 establishments in Maharashtra