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NISM Certifications · NISM-Series-VI: Depository Operations · Investor Services (NISM VI)

Mr. Iyer, a BO, complains to his DP that a corporate action credit of bonus shares has not appeared in his demat account. What should the DP primarily do as part of investor services?

The DP should verify whether the bonus credit was received through the depository and compare it with issuer or RTA records, then resolve or escalate the complaint within the prescribed time. Refusing responsibility, asking for a new account or closing the complaint would not meet the DP's investor service duties.

  1. ATell Mr. Iyer to approach the stock exchange because DPs have no role in credits
  2. BAsk Mr. Iyer to open a new demat account so the credit can be made
  3. CCheck the corporate action credit received from the depository and the issuer's or RTA's records, then redress or escalate the complaint within the prescribed timeCorrect
  4. DClose the complaint because bonus credits are always automatic

Explanation

The DP is the first point of contact and must verify the credit against depository and issuer/RTA records and resolve or escalate the complaint promptly. Redirecting the investor or opening a new account does not solve it. Assuming credits are always automatic ignores genuine errors.

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