Bajaj Finserv
Bajaj Finserv

Bajaj Financial Securities implements CDSL's TPIN based authorisation for selling stocks

ANI | Updated: Aug 31, 2020 15:51 IST

Pune (Maharashtra) [India], Aug 31 (ANI/BusinessWire India): To simplify the process of authentication while selling shares from Demat Account, and to make it more secure, Bajaj Financial Securities Limited (BFSL) has implemented TPIN based verification in accordance with Central Depository Services Limited (CDSL) norms.
With this, BFSL customers will be able to authenticate the sell transactions with a one-time sell authorization using a secured PIN which will be sent to them directly by CDSL. This added layer of security will ensure the shares in the investor's Demat Account are handled securely.
Benefits of TPIN:
An investor opening an account with BFSL opens a trading account, which allows him to buy and sell shares on the stock exchanges (NSE, BSE), and a Demat Account with a depository, where the stocks are held electronically.
When a buy order of shares gets executed, the shares are received by BFSL from the exchanges on investor's behalf and credited to his Demat Account. Similarly, when a sell order of shares is executed, BFSL debits it from the investor's Demat Account and forwards it to the exchange.
However, to debit shares from investor's Demat Account when a sell order is placed, Power of Attorney (PoA) is required; in the absence of which, customers would need to transfer shares by submitting a physical Delivery Instruction Slip (DIS) to the broker, before placing a sell order.
CDSL TPIN makes the Demat transactions safer by eliminating the need of PoA for the Demat Account. TPIN gives better control over authorizing the transaction in a Demat Account.
BFSL customers who haven't submitted a signed (PoA) can sell their shares electronically simply by validating the TPIN. Additionally, customers can pre-authorize the sale of all the held stocks together; so TPIN need not be entered every time a sell order is placed. The authorization will be valid for a maximum of 90 days.
Process of Generating TPIN:

The TPIN will be directly communicated to the investors via SMS/email service by CDSL. Confidentiality will be maintained, and no other intermediary can know the TPIN. Alternatively, investors can generate TPIN using the CDSL link:
When a BFSL customer is placing their first sell order of the day, they will be prompted to authorize the sell order by entering the PIN sent by CDSL. TPIN will also be required when a Sell position is converted from Intraday to Delivery or when a sell order is modified to Delivery from Intraday. Traders can also use TPIN authentication to authorize the transfer of shares from Demat Account to avail margin benefits against the held stocks.
Other Benefits of Trading with BFSL:
In addition to TPIN based verification for sell transactions, traders can also enjoy secure and seamless transactions in the real-time via BFSL's digital trading platform. BFSL platform can be accessed using both, mobile and web app. The onboarding process, which features seamless back-office integration, is also secure and hassle-free. BFSL also offers unique competitive benefits to its customers through its various offerings, such as:
1. Low Brokerage Rate: BFSL's affordable annual subscription packs offer a flat brokerage rate per trade, irrespective of the trading volumes. In contrast with full-service brokers who charge a percentage-based brokerage fee per trade, BFSL's pricing model offers huge cost benefit to traders. Traders can save as much as 99 per cent* on brokerage for delivery trades and up to 75 per cent** brokerage on equity F&O trades with the Beginner and Professional Trading Packs.
2. Low-cost Margin Trade Financing: BFSL also offers low-cost Margin Trade Financing at one of the lowest interest rates in the industry, i.e. Rs 0.05 per day. Traders can seek financing for an amount up to 20 times of their net worth.
3. Loan Against Securities: With this facility, traders can avail a quick and hassle-free online loan against securities by digitally pledging their securities (shares, bonds, mutual funds, etc.). The loan can be disbursed within 4 hours and high-value loan with dedicated relationship management service is available for HNI customers.
*99 per cent savings on delivery brokerage is applicable with the Beginner and Professional Trading Pack and is calculated as a brokerage of Rs 10 (approx) charged in BFSL vs brokerage of Rs 1000 calculated at 0.10 per centon 5 buy & sell orders each of a volume of Rs 2 lakhs.
**75 per cent savings on equity F&O trades is applicable with the Professional Trading Pack and is calculated as a brokerage of Rs 5/order charged in BFSL vs brokerage of Rs 20/order.
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