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NISM Certifications · NISM-Series-VI: Depository Operations · Functions of Depository Participant - Account Operations

Ms. Rao lost her unused delivery instruction slip (DIS) booklet. What is the most appropriate action to protect her account?

She should inform the DP in writing about the lost slips so the DP can block those DIS numbers, then obtain a new booklet as per procedure. Prompt intimation prevents misuse; waiting, closing the account or informing only the exchange does not protect the account.

  1. AInform the DP in writing so that the lost DIS numbers are blocked, and obtain a fresh booklet as per the DP's procedureCorrect
  2. BWait until a fraudulent transaction happens before informing the DP
  3. CClose the demat account immediately and reopen it after one year
  4. DInform the stock exchange only, as the DP is not involved

Explanation

The BO must promptly intimate the DP in writing about the loss of DIS so that the DP can stop the use of the lost slips by marking them as lost or stolen in its records. The DP then issues new slips under its procedure. Waiting risks misuse, and closing the account or telling only the exchange is unnecessary or ineffective.

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