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Custodial Services NRI's Phone Banking Priority Banking Demat A/C Special Internet Banking |
HDFC bank offers custodial services to both domestic and international financial institutions. Their state-of-the-art infrastructure, which includes customised information systems and computer controlled vaults, provides high quality and reliable services. Custody has been one of their key business areas since our inception. SERVICESHDFC provide settlement services to their custody clients. Being a member of the clearing house of both BSE and NSE, they take on pre-settlement matching of the trades and also arrange for the settlement of these trades on behalf of our clients. They also inform clients about the status of the trades on a regular basis. They also provide their clients safekeeping services at Lower Parel,Mumbai premises, where they have sophisticated computer controlled vaults. Access is restricted to a few select officers with IDs and passwords. Their process of storage is designed to avoid the risk of co-mingling of securities. They can also hold street name securities. They process securities and send them for transfer on behalf of their clients. This process involves scrutiny, data entry, transfer deed processing, stamp franking and lodging with the issuers seeking transfer of the securities to the name of the client. They have a dedicated team to follow up with the issuing companies to get the securities duly transferred. They have a team whose specific responsibility is to monitor, track, collect and reconcile the benefits and corporate actions that are due to the client. They keep their clients regularly informed of the status of their rightful benefits. REPORTS One of the unique features of our custodial services has been their ability to provide their clients with customised reports. They can provide these reports by fax, dial up access line and SWIFT. SYSTEMS Their custody system has been designed and developed by the management consulting arm of PriceWaterhouse Coopers. This has been considerably fine-tuned to meet with specific requirements to give a reporting flexibility. The application is an ORACLE RDBMS. COMMUNICATION Their systems are integrated with SWIFT, to enable us to provide and receive messages through SWIFT. They can also provide reports through a dial up line. INSURANCE They are covered by a Special Contingency Policy for Custodial Services by a state owned insurance company. The policy covers risks including loss in transit, fire and allied causes, employee infidelity, computer crimes up to a maximum of Rs. 100 million per event. There can be unlimited number of events per year. RELATIONSHIP Each Client Relationship is managed by a dedicated team. This team acts as a one-point contact for all queries and informational requirements of the client. FEATURES Settlement
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Follow-up
Reports
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