Demat account Essay

The trading on stock exchanges in India used to take place through open outcry without use of information technology for immediate matching or recording of trades. This was time consuming and inefficient. This imposed limits on trading volumes and efficiency. In order to provide efficiency, liquidity and transparency, NSE introduced a nation-wide on-line fully automated screen based trading system where a member can punch into the computer quantities of securities and the prices at which he likes to transact and the transaction is executed as soon as it finds a matching sale or buy order from a counter party. Screen based electronic system electronically matches orders on a strict price/time priority and hence cuts down on time, cost and risk of error, as well as on fraud resulting in improved operational efficiency. It allows faster incorporation of price sensitive information into prevailing prices, thus increasing the informational efficiency of markets. It enables market participants, irrespective of their geographical locations, to trade with one another simultaneous, improving the depth and liquidity of the market. It provides full anonymity by accepting orders, big or small, from members without revealing their identity, thus providing equal access to everybody. It also provides a perfect audit trial, which helps to resolve disputes by logging in the trade execution process entirety. The sucked liquidity from other exchanges and in the very first year of its operation, NSE became the leading stock exchange in the country, impacting the fortunes of other exchanges and forcing them to adopt SBTS also. Today India can boast that almost 100% trading take place through electronic order matching. In order to promote dematerialization of securities, NSE joined hands with leading financial institutions to establish the national securities depository Ltd. (NSDL), the first depository in the country, with the objective of enhancing the efficiency in settlement systems as also to reduce the menace of fake/forged and stolen securities. This has ushered in an era of dematerialised trading and settlement. SEBI has made dematerialised settlement mandatory in an ever -increasing number of securities in a phased manner, thus bringing about an increase in the proportion of shares delivered in dematerialised form. There is an increasing preference to settle trades, particularly in high value securities, in demat form. Such  high level of demat settlement reassures success of rolling settlement. What is DEMAT In India , a demat account, the abbreviation for dematerialised account, is a type of banking account which dematerializes paper-based physical stock shares. Conversion of Securities from Physical (Paper) Mode into Electronic Mode is Called Dematerialisation. The Client opens Demat Account with any DP. Upon Demat, the Certificates are destroyed and credit entry of exactly equal number of Securities is created in Depository in Electronic mode. The B.O. account of holder is credited and the securities loose their identities. The dematerialised account is used to avoid holding physical shares: the shares are bought and sold through a stock broker. This account is popular in India. The market regulator, securities and exchange board of India (SEBI) mandates a demat account for share trading above 500 shares. As of April 2006, it became mandatory that any person holding a demat account should possess a permanent account number (PAN), and the deadline for submission of PAN details to the depository lapsed on January 2007. Dematerialisation is the process by which physical certificates of an investor are converted to an equivalent number of securities in electronic form and credited in the investor’s account with its DP. In order to dematerialize certificates; an investor will have to first open an account with a DP and then request for the dematerialisation of certificates by filling up a dematerialisation request form [DRF], which is available with the DP and submitting the same along with the physical certificates. The investor has to ensure that before the certificates are handed over to the DP for demat, they are defaced by marking â€Å"Surrendered f or Dematerialisation† on the face of the certificates. Objective of the Study †¢ The main objective of the study is to know about the potential of the market regarding people’s dealing in share market. †¢ To know the role of Demat Account . †¢ To know the procedure of opening DEMAT ACCOUNT. †¢ The objective is to know that how many people in the city are aware of the UNICON SECURITIES PVT. LTD. †¢ To know where people have already opened their demat a/c and on what basis. Procedure for Opening an Account A demat account are opened on the same lines as that of a Bank Account. Prescribed Account opening forms are available with the DP, needs to be filled in. Standard Agreements are to be signed by the Client and the DP, which details the rights and obligations of both parties †¢ The DP officials will make available the relevant account opening form (depending on whether the client is a retail investor or corporate client/clearing member) and specify the list of documents regarding references that should be submitted along with the form. It will also give a copy of the relevant agreement to be entered with the client, in duplicate. †¢ The client will submit the duly filled in account opening form and client has to visit personally for opening the account in DP. The DP officials have to do in person verification and affix the â€Å"IN PERSON VERIFICATION† stamp on the account opening form. It should also furnish such documents regarding references, as specified by the DP , along with the account opening form. After executing the agreement the client has to forward it to the DP. †¢ The DP officials will verify that the account opening form is duly filled in. It will also verify the enclosed documents, if any. Incomplete forms will be forwarded to the client for rectification. For Corporate Clients, the DP officials will verify if the board resolution for the authorized signatories is enclosed. †¢ In case the documents are not proper, the DP officials will reject the form and intimate the client of the same, stating the reasons for doing so. †¢ If the form is in order; the DP officials will accept the same and affix the stamp â€Å"verified with original† on each and every proof after seeing the original proofs. †¢ After completion of all documentation, the DP officials will verify the pan from income tax website. And affix the stamp â€Å"PAN VERIFIED† with date and sign on the stamp. †¢ The DP officials will enter the client details as mentioned in the account opening form in the DPM (software provided by NSDL & CDSL to the Participant) screen provided for the purpose. In case of NSDL A/c opening the SR. Assist will capture all the details in the DPM and record the client’s signature (on the form) as specimen for authorizations in the future. †¢ After entering client details in the system, a client account number will be generated by the DPM. The DP officials will enter this in the account opening form. After that the officers will verify the details in the DPM captured by the SR. Assist. and  activate the account. †¢ The DP officials are not allowed to give the demat a/c no to the clients until the a/c is activate, this is applicable for both NSDL & CDSL. †¢ When the demat a/c is activated the DP officials have to send the client master and the copy of agreement between DP and client at the client’s address DEMAT Process †¢ The registered holder of the securities makes the request. †¢ Securities must be recognised by Depository as eligible. †¢ Client submits DRF & physical certificates to DP. DP checks securities. †¢ Client defaces certificates and DP punches two holes on name of company. †¢ DP enters demat request in system for Depository. †¢ DP dispatches certificates along with DRF to R&T. †¢ Depository records the details and sends to R&T. †¢ R&T agent verifies the details and confirms to Depository. †¢ Depository credits the demat securities to BO a/c of client and intimates DP electronically. †¢ DP issues statement to client

An Analysis of a Saint or Sinner through Merton’s Strain Theory of Deviance

Merton’s strain theory presupposes that deviant and criminal behavior is a result of deprivation within the societal structures. This is due to a failed integration of socially accepted goals with the means to achieve them. Within this theory Merton provides five adaptation modes which people utilize to cope with the strain. These adaptations may end in either good adaptation or development of deviant/criminal behavior. Al Capone is an example of this theory as he is a possible example of innovation adaptation leading towards criminal behavior as symbolized by his success within the crime world of the 1930s. An Analysis of a Saint or Sinner through Merton’s Strain Theory of Deviance American sociologist Robert K. Merton borrowed Durkheim's concept of anomie to create his own theory which he called the Strain Theory. The theory presupposes that delinquency is not merely a response to sudden social changes as theorized by Durkheim but is instead a result of a social structure that fails to integrate predetermined societal goals with the means to accomplish them. This structural disintegration leads to the formation of deviant behaviors and ultimately criminal behavior. According to the theory, there are five modes of adaptation that people form as a reaction towards the strain caused by the restriction from socially accepted goals and means. These are namely conformity, innovation, ritualism, retreatism and rebellion. These adaptations can either lead to both positive and negative outcomes. For example, adaptation through retreatism can lead to social withdrawal and thus creates for a better likelihood of turning towards drug and alcohol abuse (Sociology at Hewett, 1999). As for another example, the well known and iconic American mobster Alphonsus ‘Al’ Capone is a possible outcome of the innovation mode of adaptation. Born to Italian immigrant parents, Al Capone didn’t have a privileged childhood. Together with seven other siblings, they lived in lower Brooklyn, a notably rough neighborhood. Al dropped out of school at the age of 14 and became a member of two kid gangs, the Brooklyn Rippers and Forty Thieves Juniors. Al Capone lived most of his life during the â€Å"gangland† era of American history to which he used his innovative skills to get ahead. The success of his mob organization, known as The Outfits, is solely credited to Al Capone’s organizational skills. Within five years of inheriting the organization from mentor Torrio, Capone has managed to take over most of the underground market of Chicago. Alternately, his rise to power also signaled the worst period of lawlessness America has ever faced (Chicago Historical Society, 1999 n. . ). Al Capone’s brilliant actions in the world of organized profiteering are classic examples of innovation leading to criminal behavior. Deprived by society’s structure of the means (education, opportunities) to attain the common goal of â€Å"good fortune through hard work,† Al Capone instead turned to the world of organized crime to attain his multi-million fortune. Deprivation is the primary cause of deviant behavior acc ording to the strain theory but this doesn’t limit deprivation to the economic sense only. If it were the case, then there won’t be any offenders in modern society who belonged to the capable and well-off , but as we all know that isn’t the case. In reality there are cases of privileged individuals who still manifest deviant or criminal behavior. Their behavior is still rooted in deprivation somewhere along the societal structure but this may imply other areas. Such areas may include metaphysical and psychological territories possibly including intellectual capacities, emotional quotients, psychologic anomalies and many more.

Final case Analysis for Richardson Drilling Essay

Final case Analysis for Richardson Drilling - Essay Example After some months, when Jacob took over as the sales person in Latin America, he discovered certain facts by going through files of the earlier sales representatives. The Latin American area under Jacob also included some US territory and when Jacob went over the old reports, he noticed that quite a few US companies had stopped purchasing Richardson equipment; there was no apparent explanation for these customers to have moved away from Richardson. After some enquiry with these clients, Jacob discovered that these companies had suffered accidents, almost seven years back, due to a failed liner from Richardson. However, in spite of the companies complaining to the sales rep and the fact that Richardson’s President had also visited, no corrective measures had been taken. In all the above three cases sited here, the common factor is that Richardson has taken advantage of the less restrictive rules (compared to US) in other places such as Mexico, Brazil, and other Latin American countries, to bribe, and push substandard supplies, which they would not be able to sell inside the US or to other countries, for example in Europe, who would have strict quality regulations. So, these are ethical issues. Though Jacob had not reacted about the bribes, he was morally upset by the loss of lives and decided to talk to his boss, Hillary; she thanked him for the information but advised him to keep quite till the seven year statute, regarding limitations, was over. As recourse Hillary also said that in case this became known, then Richardson would download the inventory on Venezuela or Brazil where laws were less restrictive. Both these again were ethical issues. Sometime after, Jacob went to finalize a deal in Mexico with ARMCO; the deal was for $50 million and after it was signed Jacob again bribed an ARMCO person with $50 thousand. Hillary congratulated Jacob and promised him a bonus and a probable promotion. Both of these again raise ethical concerns. While all these

Future Assignment Example | Topics and Well Written Essays - 1000 words

Future - Assignment Example – (Baudrillard, 1993) Baudrillard was of the view that the art world, in recent years, has moved into dark insight for future, with creativity significantly stifled by lack of curiosity and aesthetic sense. The artistic intellect of people has been largely paralysed, leading the art world into anarchy and blindness. It is same as a biological system being affected by disorder in its internal genetics and inherent rules that govern it. Similarly, art world has faced turmoil due to collapse of the underlying components that establish its foundation. The above quoted statement suggests that currently, the field of telematics has suffered largely from its own backfired initiative taken for promoting transparency and candidness. To make it worse, eventually technology came into role-play which focused primarily on creating mobility and connectivity. In due course of achieving these goals, technology led the society into a scenario where face-to-face communication is no longer value d or considered (Baudrillard, 1993). Although, the whole propaganda of art has been observed to flourish across the globe in recent decades, this enhancement is not in real terms. The true spirit and obsession that was embedded in art forms in previous times has diminished largely. The innovation, that once led artists and spectators into an imaginary world and generated serenity and ecstasy for them, no longer exists in the modern world. Consequently, art has lost its cultural significance, emotional attachments and extrinsic value in our societies. Now, the masses have gone astray in absence of aesthetic sense for artistic objects and primarily focus on their materialistic values and religious implications (Gane, 1995). â€Å"Artists and ordinary Web surfers alike will have to determine whether cyberspace truly is a new form of absence and ‘transparent evil’, or whether, instead, it is a place for creative, intelligent, and beneficial sensory exploration and communal connection.† - C. Freeland Previously known merely as a network of computer terminals, cyberspace is no longer restricted to this simple and technical definition. Freeland claimed that the internet has embedded into our communities and lives to an extent where survival without it is not possible anymore. He stated that it has promoted transparency to unacceptable levels, thereby allowing social evils to be easily acknowledged by masses as part of the evolution process. It is only fair to state here that the global village is on the verge of entering an information and technology age where spatial creations shall be more valued than natural beauty. In context of art, internet has caused a major transition of people from appreciating reality and originality to accepting the virtual forms of art. Simulation discards the craving for an aesthetic eye to be pleased with some real piece of art; instead, it develops recognition for ‘hyperreal’ content which is limited on ly to screens that displays cyberspace interface. Transparency here refers to the increasing proximity of

Assessment at work Essay Example | Topics and Well Written Essays - 3000 words

Assessment at work - Essay Example Strengths associated with Abercrombie & Fitch assessment procedures are highlighted as well as recommendations for improvements in the company’s selection process. The use of a single Communications Competence testing instrument is a standardised testing template, regulated by a highly centralised human resources heirarchy. There is no room for flexibility or adaptation of current assessment instruments or policies and the company is routinely audited for compliance to assessment methods. This creates an environment in which the company is using assessment tests that are not congruent to finding the appropriate employee for Abercrombie & Fitch. Abercrombie & Fitch has experienced high levels of negative publicity in recent years for alleged unethical hiring practices related to youth, beauty and exclusivity. However, these corporate beliefs are part of the business’ organisational culture and are the criteria utilised to determine job role candidacy. In a business environment where personality is a key factor in whether a candidate fits the culture, the company requires a reexamination of existing selection efforts. Abercrombie & Fitch (A&F) is a mid-level clothing retailer which has positioned itself as an upscale fashion house catering to unique perceptions of youth, beauty and exclusivity. The company carries a wide variety of somewhat-provocative fashions, unique, politically incorrect apparel as well as traditional outerwear (Case Study, 2007). The company’s main competitors are other mid-level retailers both domestically and within the company’s international sales divisions such as Burberry or The Gap. The company currently utilises one form of psychometric testing in the firm’s selection processes. A&F maintains one of the most unique HR models in today’s retail as the business’ focus on exclusivity is at the heart of the

Negative side on fast food Essay Example | Topics and Well Written Essays - 1250 words

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Work-based learning (at a Law ftrm) Essay Example | Topics and Well Written Essays - 2000 words

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