TaxTMI 
TaxTMI 
Master Circular for Custodians
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....ta provided by data sources in Indian securities market', 'Digital mode of payment', 'Information regarding Grievance Redressal Mechanism' and 'Guidelines on Outsourcing of Activities by Intermediaries', etc. 3. With respect to any other directions or guidance issued by SEBI, as specifically applicable to Custodians, the same shall continue to remain in force in addition to the provisions of this Master Circular or any other law for the time being in force. 4. This Master Circular shall come into force from the date of its issue. The circulars mentioned in Annexure A of the Master Circular shall stand rescinded with effect from the date of issuance of this Master Circular. 5. Notwithstanding such rescission, a. anything done or any action taken or purported to have been done or taken under the rescinded circulars, including registrations or approvals granted, fees collected, registration or approval suspended or cancelled, any inspection or investigation or enquiry or adjudication commenced or show-cause notice issued, prior to such rescission, shall be deemed to have been done or taken under the corresponding provisions of this Master ....
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....9679; Custodians are an integral part of the securities market and have an important role to play in the institutional segment of the market. Their role is crucial in the effective functioning of the securities clearing and settlement system. It is therefore, important that the custodians follow uniform norms and practices in their dealing with their clients, brokers, stock exchanges and depositories. ● Custodians must function as an integral part of the system and integrate with the system. Therefore, no custodians shall have such norms and practices as would result in their functioning in isolation of clearing and settlement systems. ● Custodians must be a member of the clearing houses/ clearing corporations of the stock exchange(s) and participate in the clearing and settlement process through the clearing house/clearing corporation for all securities of their clients. ● Custodians shall comply with the applicable rules of the exchanges where they have become members of the clearing house/clearing corporation. This would facilitate the operations of the clients, and also result in reduction of cost of service for the client. CHAPTE....
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....o email the reports mentioned at points 1 to 8 below to [email protected] and upload them on the SEBI portal wherever applicable. The reports mentioned at point 9 shall be emailed to [email protected] 1. Daily Trade details of FPI in equity, debt & Hybrid Custodians on a daily basis are required to report details of transactions entered into by the FPI. The daily investment reports shall be submitted to SEBI by 3:00 p.m. Custodians are advised to strictly adhere to the above deadline of 3.00 p.m. as SEBI shall be imposing penalty on defaulting custodians. Section A: General instructions: These are general instructions to be followed by the custodians while compiling and submitting daily reports to SEBI. 1. The date format to be used for all reports submitted to SEBI would be DD-MM-YYYY. 2. Custodians must ensure that the data submitted is accurate and complete and does not contain any blank or incomplete records. 3. All transactions will have a unique transaction identification number (ID) which would be given by the custodians at their end. Custodians are free to give any ID as per their own system. It should however be ensured t....
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....sue need not be reported. Such transactions are to be reported only on allotment and to the extent of actual allotment received. Similar procedure is to be followed in respect of lodgment of shares in open offers, buybacks etc. Custodians may devise appropriate internal procedures to record lodgment of applications / securities etc. 10. Reporting of merger/amalgamation/splitting of shares: The reporting should be done on the basis of credit of shares to the clients account. 11. Debenture Conversion: In case of debenture conversion into equity, the reduction in value of debenture should be shown as a sale transaction in debt report with transaction code (08). The acquisition of equity should be reported as a conversion transaction (which would be deemed as a purchase) in the equity report at conversion rate giving transaction code as (06). The net investment as on that date would generally be nil. Efforts should be made to report both legs of the transaction on the same day. However, in case any cash is either received or given, the same should be added to the rate field in sale and purchase trades appropriately. 12. Merger/Amalgamation cases: In a merger,....
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.... the warrants. The shares or securities allotted pursuant to exercise of warrants may be reported as a purchase with code 05 with the total exercise price as the rate. In case, the warrants lapse/expire, the transaction should be shown under code 17. For example, suppose one warrant was purchased for INR 100. The purchase has to be reported appropriately. If the warrant is subsequently sold at INR 105, it has to be shown under code 04 and value INR 105. If the warrant is exercised to subscribe equity shares @INR 1000 each, the transaction of exercise of warrants should be reported under code 08 with value INR 100 and a corresponding purchase of equity shares @ INR 1000 under code 05. In case the warrant is not exercised and it lapses, it has to be reported under code 17 with zero value. Section C: Reporting of Debt transactions 1. The format for the debt 'Daily Debt Transaction Report' (DDR) and 'Daily Debt Transaction Summary' (DDS) would be the same as the formats for the equity DTR and DTS. 2. The operational guidelines are as under: a) Some instruments are traded just like equity i.e. price for each unit of debenture / bond....
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....e shown with value as a sale transaction with transaction code (08) in the debt file. This transaction would be balanced with the acquisition of equity to be reported in the equity file as a conversion transaction (which would be deemed as a purchase) at conversion rate with transaction code (06). However, in case any cash is either received or given, the same should be added to the rate field in sale and purchase trades respectively. Section D: Amendment / deletion of transactions: 1. In case of any amendment of the transactions, the amended transaction may be reported again with same Transaction Identity No. and Reporting Type as: Amendment (the appropriate codes as given in the annexure are to be used in the soft copy of the report). 2. In case of deletion of a transaction, the transaction be reported with same Trade ID and Reporting Type as: Deletion. A statement may be submitted in case of amendment / cancellation of transactions mentioning the reasons therefor. 3. All amendments / deletions should be reported on the day when information about the same is received by the custodian. Delay in reporting would be viewed seriously. a. Sub-divi....
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....e exchanges being a nationwide trading network are open for trading. For such occasions, custodians are requested to submit separate reports - one would be the normal report and the other for the holiday. Care must be taken not to submit a consolidated report, but different reports with proper reporting dates. LIST OF ANNEXURES ANNEXURE DESCRIPTION C Order and parameter of Fields for the Daily Transaction Report D Daily Transaction Summary E Daily Transaction Report F Nature of Transaction Codes G Stock Exchange Codes and Settlement Codes H Type of Instrument codes, Reason for Delay and Reporting Type I Reasons for Amendment / Deletion of Trades J Format for Issuance of ISIN for Unlisted Securities 2. ISIN wise Assets under Custody (AUC) report Custodians shall report ISIN wise AUC details of FPIs, on a fortnightly basis by the 2nd working day of the end of each fortnight. Based on these reports, fortnightly Sector-wise FPI investment data is being disseminated on the websites of NSDL and CDSL. These reports are available on NSDL and CDSL on below weblink: NSDL: https://www.fpi.nsdl.co.in/web/Reports/FPI Fortni....
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....heir operations on quarterly basis. i. General Particulars including Name, Address, Custodian Registration No., Contact details ii. List of other registrations held with SEBI iii. List of other associate / subsidiary companies operating in the securities markets, their activities and registration numbers iv. Networth of the Custodian v. Detail of changes in infrastructure facilities e.g. change / addition / reduction of office, computers, vault capacity, key employees etc. vi. Details of clients and corpus vii. Details of clients / accounts added / deleted during last 3 months viii. Trade statistics for the quarter ix. Specifications and size of the vault x. Compliance with respect to display of information related to grievance redressal mechanism, publishing of investor charter and disclosure of complaints on the website of the Custodian The format of the quarterly reports to be submitted by custodians is enclosed as Annexure O. Custodians may also submit a hard copy of the same to SEBI. 7. Net worth details In order to monitor the fulfillment of capital requirements, all custo....
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....pliance operations / activities, where AI/ ML is portrayed as a part of the public product offering or under usage for compliance or management purposes, is included in the scope of this circular. Here, "Al" / "ML" refers to the terms "Artificial Intelligence" and "Machine Learning" used as a part of the product offerings. In order to make the scope of this circular inclusive of various AI and ML technologies in use, the scope also covers Fin-Tech and Reg-Tech initiatives undertaken by market participants that involve AI and ML. iv. Technologies that are considered to be categorized as AI and ML technologies, are explained in Annexure O. Regulatory requirements v. All Custodians / Designated Depository Participants ('DDPs') offering or using applications or systems as defined in Annexure P, should participate in the reporting process by completing the AI / ML reporting form (see Annexure Q). Those Custodians /DDPs who are not using application or system as defined in Annexure P shall submit a 'NIL' report. vi. Custodian/ DDPs using AI or ML based application or system as defined in Annexure P, are required to fill in the form (Ann....
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....uation of reports 9. 26-Aug-02 FITTC/FII/05/2002 Direct uploading of FII data by the Custodians - PDF 10. 19-Jul-02 FITTC/FII/04/2002 Clarifications regarding operations of Foreign Institutional Investors 11. 18-May-01 FITTC/CUST/11/2001 Activities of Custodians of Securities 12. 01-Oct-99 FITTC/CUST/7/1999 Submission of Information by Custodians of Securities 13. 12-Feb-99 FITTC/CUST/ 5 /1999 Fees for Custodians 14. 20-Nov-98 FITTC/CUST/3/1998 Circular No.3 dated November 20, 1998 15. 13-Jan-98 IIMARP/PG/08/98 Specifications of vaults with custodians 16. 03-Oct-96 IIMARP/CUST/1/1996 Uniform Norms and Practices for Custodians of Securities Annexure B Annexure C: Order and parameter of Fields for the Daily Transaction Report (DTR and DDR) Sr. No CODE EXPLANATION FIELD DESCRIPTION FIELD WIDTH 1 CUST_CODE Custodian Code (this is the numeric code present in the SEBI Regn No) NUMBER 3 2 REPORT_DT Date of report(DD-MON-YYYY) CHARACTER 11 3 ID Unique Transaction Identification Number to be given by custodian CHARACTER 12 4 ....
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....Transaction Code Types* 2, 6 and 9 01,02,03,05,06, 14,16 3, 7 and 10 04,08,09,10,11, 13 4 and 8 07, 12, 15 *The transaction codes are as identified in the Annexure C Annexure E: Daily Transaction Report Annexure F: Nature of transaction Codes Nature of transaction Transaction code Purchase in secondary market 01 Purchase in primary market (net of refund) 02 Preferential allotment (net of refund) 03 Sale in secondary market 04 Purchase through rights issue (net of refund) 05 Receipt of equity shares after conversion of debentures (transactions where a debt instrument has been received on surrender of another security may also be reported under this code in the debt report) 06 Receipt of bonus shares, or shares in a buyback/merger/open offer/ securities in lieu of shares* 07 Redemption of debentures / units of mutual funds 08 Acceptance of shares lodged /offered under open offer (accepted quantity) 09 Repurchase of units by Mutual Fund 10 Acceptance of shares lodged /offered under buy back offer (accepted quantity) 11 Payment of allotment / call money 12 Square off - on account....
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....ons RR Other debt instrument (Quoted at unit price) DU Other debt instrument (quoted in units of Rs 100) DR 18. R-DELAY: Reasons for delay in reporting 1. P - Prompt reporting 2. D - Delay in receipt of contract from broker S - System failure at custodian office O - Other delay reasons 19. R_TYPE: Reporting Type N- New Transaction A. A. Amendment in earlier reported transaction D- Deletion of earlier reported transaction Annexure I: REASONS FOR AMENDMENT / DELETION OF TRADES DESCRIPTION CODE New Transaction 00 Change in quantity of scrip 01 Change in name of scrip transacted 02 Change in price of scrip transacted 03 Change in date of contract 04 Change in name of FII/sub-accounts (with same custodian) 05 Change in name of FII/sub-accounts (with different custodian) 06 Sub division of the contract 07 Consolidation of two or more trades 08 Cancellation of trade by broker 09 Cancellation/non acceptance of trade by FII 10 Two contract notes received for same deal 11 Contract note wrongly delivered by broker to us (pertaining to 12 *....
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....ther associate / subsidiary companies operating in the securities markets, their activities and registration numbers l. Networth as on _________ (Rs. in crores) (Please mention steps taken to fulfil the networth requirement, if inadequate) m. Detail of changes in infrastructure facilities e.g. change / addition / reduction of office, computers, vault capacity, key employees etc. during the quarter: B. DETAILS OF CLIENTS & CORPUS VALUE Type of Client No. Corpus Value as on____________ (Rs. in Crores) TOTAL C. DETAILS OF CLIENTS / ACCOUNTS ADDED / DELETED DURING LAST 3 MONTHS Name Category Corpus D. DETAILS OF BUSINESS HANDLED Details Delayed Settlement Not Settled No of Trns. Value Rs in Crs No of Trns. Value Rs in Crs No of Trns. Value Rs in Crs B/F Purchase Sales Total &n....
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....nstructions for the event within Market timelines (c) Settlements Within 48 hours (d) Proxy Voting / E-Voting / Postal Ballot within Market timelines 6 Monthly Portfolio Report to client with list of Assets Within 7 working days 7 Client Queries Acknowledgment or Response within 48 hours 8 Grievance Redressal Acknowledgment within 48 hours and redress within 30 days * above timelines will apply to cases where documents/information is complete in all respects General Guidance for Investors: Sr. No. Guidance 1 Provide Complete, Accurate and Latest information for Account Opening. 2 Investors are solely responsible for any investment activity undertaken on the market. 3 Ensure all investments and investment related activities are in compliance with applicable rules and regulations 4 Investors have Right of Fair and Equitable Treatment and Confidentiality of Information as per SEBI (Custodian) Regulations, 1996 5 Investors have Right to expect Redressal of Grievances in a time bound manner and ensure to collect contact details of key personnel for Escalation and Resolution of grievan....
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....uring the year Resolved during the year Pending at the end of the year 1 2019-20 2 2020-21 3 2021-22 Grand Total ============= Document 1 Also Refer Confidential DCM(CC)No.G-18/03.39.01/2008-09 November 14, 2008 To, The Chairman & Managing Director / The Chief Executive Director (All Banks having Currency chests) Dear Madam / Sir Technical Specification for Construction of Currency Chest Strong Rooms (Vaults) Please refer to our circular DCM(CC) No.G12/03.39.01/2006-07 dated January 09, 2007. Considering the representations made by certain banks regarding problems being faced by them in establishing currency chests conforming to the technical specifications specified therein, a Committee was constituted to recommend modifications in the existing specifications. 2. Based on the Committee's recommendations technical specifications and infrastructural requirements for setting up currency chests have been modified / revised as per Annex 1 to 4. 3. The ....
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....(See IS 14387) / Exhaust fan Height from Floor Level : 2100, Min, Opening Size : 450 x 450, Max Heating Ventillation and Air Conditioning (HVAC) arrangements Shall be provided through plenum chamber attachment to manhole / emergency door Other security and surveillance systems to be provided and installed inside the Vault Close Circuit Television (CCTV) coverage for vault including petrol corridor and other chest areas Shall be necessarily provided and always maintained in working order through service contracts and uninterrupted power supply Emergency lighting Shall be necessarily provided and always maintained in working order through service contracts Smoke detection and fire alarm system Shall be necessarily provided and always maintained in working order through service contract and uninterrupted power supply Fire-fighting systems Necessary fire-extinguishers for fighting A, B and C class fire shall be provided and always maintained in working order through service contracts Burglar and Security alarm system Sensors for movement / vibration / moisture / heat / smoke / magnetic etc., detection based system capable of automatically raising an alarm using hooter....
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....s in millimeters Vault Class AA AAA Application Wealth Level Medium High Risk level Medium High Main door with time-lock (see IS 11188 (Part 1) for construction details) to be fixed on front side Class 'AA' Class 'AAA' Emergency door (see IS 11188 (Part 1) for construction details) if to be provided and fixed on back side as per the layout prepared by the bank's Architect / Structural consultant. Class 'AA Class 'AAA' Internal clear usable size without obstructions (HxWxO) 3000×6100×6100, Min (400 sq.ft.) 3000×6100×7625, Min (500 sq.ft.) Or else, larger size as may be required by the user Or else, larger size as may be required by the user Construction shall be done as per the design of the Structural Consultant subject to minimum requirements given here for achieving burglary resistance against attack by common hand held / picking / impact / portable electric / hydraulic / concrete cutting / drilling tools, pressure applying devices, power saws, etc .; fire resistance against gas cutting torch, fluxing rods etc .; fire hose stream reheat endurance against exposure to major fire and fire-fighting water streamjet etc. Wall thickness 450, Min 4....
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.... contracts. CCTV Coverage for peripheral area surrounding the chest premises Shall be necessarily provided and always maintained in good working order through service contracts and uninterrupted power supply Biometric Access Control systems If needed, systems for verification of the authority to have access inside vaults shall be provided and always maintained in work order through service contracts and uninterrupted power supply Burglar and Security Alarm Systems Burglar and Security alarm system capable of automatically raising audio-visual emergency alarm when activated manually by the on -duty. Police / Security Guard shall be provided, periodically tested and always maintained in good working order. Other measures to be taken for ensuring security and safely of treasure stored in vaults. Whether armed security guards are required to be posted at chest premises in addition to the police guards provided by State Police? Not Mandatory Police-guard rooms Rooms with all necessary facilities for the guards to take rest shall be provided near the strong room. Whether cell-phones to be given to the security-guards guarding the vaults? Not Mandatory Whether Auto-di....
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...., 3 Layer in Floor, 2 Layer in Roof 3 Layer in Roof Surveillance passage / Petrol Corridor 1150, Min for Front, Back and Side Security Ventillator (See IS 14387) / Exhaust fan Height from Floor Level : 2100, Min, Opening Size : 300 x 300, Max Heating Ventilation and Air Conditioning (HVAC) arrangements Shall be provided through plenum chamber attachment to manhole / emergency door Other security and surveillance systems to be provided and installed inside the Vault CCTV coverage of cash handling operation in the vault including petrol corridor and other chest areas uninterrupted power supply Shall be provided and always maintained in working order through service contracts and Emergency lighting Shall be necessarily provided and always maintained in working order through service contracts Smoke detection and fire alarm system Shall be provided and always maintained in working order through service contracts and uninterrupted power supply Fire-fighting systems Necessary fire-extinguishers for fighting A, B and C class fire shall be provided and always maintained in working order through service contracts Burglar and Security alarm system Vibration / mois....
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.... hilly places as considered by State Governments / any appropriate authority) All dimensions in millimeters Vault Class C B Application Wealth Level Low Medium Risk Level Low Medium Main door with time-lock (see IS 11188 (Part 1) for construction details) to be fixed on front side Class 'C' Class 'B' Emergency door (see IS 11188 (Part 1) for construction details) if to be provided and fixed on back side as per the layout prepared by the bank's Architect / Structural consultant. Class 'C' Class 'B' Internal clear usable size without obstructions (HxWxD) Tolerance on dimensions : Rs.2% 2450x3350x2460, Min 3000×6100×6100, Min (400 sq.ft.) Or else, larger size as may be required by the user Or else, larger size as may be required by the user Construction shall be done as per the design of the Structural Consultant subject to minimum requirements given here for achieving burglary resistance against attack by common handheld / picking / impact / portable electric / hydraulic / concrete cutting / drilling tools, pressure applying devices, power saws, etc; fire resistance against gas gutting torch, fluxing rods etc; fire hose stream reheat endurance again....
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....hest premises in addition to the police guards provided by State Police? Not Mandatory Police - guard rooms Rooms with all necessary facilities for the guards to take rest shall be provided near the strong room. Whether cell-phones to be given to the security-guards guarding the vaults? Not Mandatory Yes Whether Auto-dialer, Hotline connections to nearest Police Station is required to be provided at Chest premises. Yes Insuring the vaults against terrorist / insurgent / vandal / mob / enemy attack etc. Insurance is not required if treasure is guarded by State Armed Police guards. In case it is guarded by Ex-Servicemen security agencies sponsored by DGR, banks may take insurance cover at their option / cost. Refer DCM (CC) No.2482/03.39.01/2018-19 dt 08-04-19 DCM (CC) No.G-11/3445/03.39.01/2015-16 dt 13-04-16 DCM(CC)No.G-13/4553/03.39.01/2014-15 dt 23-04-15 KMT from the Alpha Plus Suite of Solutions!@ Alpha Plus Technologies Pvt. Ltd. Document 2 This XML file does not appear to have any style information associated with it. The document tree is shown below. 100025 * 23/02/2023 * * * * * * * * * 0 0 0 0 0 0 4 * * * * * * * REG_DL_....
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....calculated by deducting Date of holding from Maturity date of : SEBI on 05-DEC-2013. 4) Primary trade for which stock still not received excluded from the report (Daily deb day of the month) Table 1B Security Debt Oriented Mutual Funds Security Receipts Total s on January 31, 2023* Corporate Bonds Debentures - - - - - - - - - - - * Traded positions as utual fund. ined from SEBI on 05-DEC-2013. Security as per clarification obtained from t trade reporting not done till 1st working Holdings (INR cr) * - ; on January 31, 2023 Document 8 Annexure B - Systems deemed to be based on Al and ML technology Applications and Systems belonging but not limited to following categories or a combination of these: 1. Natural Language Processing (NLP), sentiment analysis or text mining systems that gather intelligence from unstructured data. - In this case, Voice to text, text to intelligence systems in any natural language will be considered in scope. Eg: robo chat bots, big data intelligence gathering systems. 2. Neural Networks or a modified form of it. - In this case, any systems that uses a number of nodes (physical or software s....