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Stock Holding Corporation of India Limited (SHCIL) is India's largest[2] custodian and depository participant, based in Mumbai, Maharashtra.[3]
 | |
| Company type | Public Sector Undertaking |
|---|---|
| Industry | Stock Market & Financial Services |
| Founded | 1986, Mumbai |
| Headquarters | , |
Area served | Custodial Services Depository Services E-stamping |
Key people | Shri Ramesh NGS (Chairman) Shri Rohinton Hirji Mewawala (Chief Operating Officer) |
| Services | Central Depository Services Broker Derivatives Mutual Funds Demat account E-stamping[1] |
| Website | www |
SHCIL was established in 1986 as a Public Limited Company and is a subsidiary of IFCI. SHCIL is known for its online trading portal, with investors and traders.[4] It is also responsible for e-stamping system around India. It is also authorised by Reserve Bank of India as Agency Bank to distribute and receive Govt. of India savings/relief bond 2003 along with nationalized banks.[1]
Corporate structure
The Stock Holder Corporation is mainly split into two separate entities under the SHCIL umbrella:[5]
- SHCIL Services Ltd (stock brokering services)
- StockHolding Document Management Services Limited (provides end-to-end document storage and digitization services)
Operations
Domestic presence
SHCIL has over 200 branches and in 100 cities around India, it currently caters to 50+ million customers.[4]
E-Stamping
The main e-stamping facility was opened on 3 July 2008 in New Delhi, India and was inaugurated by Chief Minister Sheila Dikshit. The goal of the e-stamp was to "prevent paper and process-related fraudulent practices" according to the SHICL chairman and managing director at that time, RC Razdan. It implemented the e-stamping facility in five cities of Gujarat - Ahmedabad, Gandhinagar, Surat, Rajkot and Baroda – as well as Bangalore, in March 2008.
Products and services
Stock Holding offers numerous financial services along three main branches: personal, corporate and custodial services.
Personal services
Some of the personal services they offer include:
- Demat Account
- Insurance
- Mutual Funds
- NPS (Retirement)
- GOI Bonds (Government of India)
- IPOs
- Stock Holding
GoldRush
A platform that allows users to buy gold online and is one of the only two ways to do so in India.[6]
Corporate services
- Demat services for business
- CSGL services (government bonds)
- Trading accounts
- NPS accounts
- Bullion (gold and silver)
Custodial services
Custodial services include any safekeeping, administration, transaction and further activities done on behalf of a company by its custodian, and include:
- Fund accounting
- FDI (Foreign Direct Investment)
- Company Valuation
- Vaults
- Customized Reporting
- Electronic and Physical Safekeeping Services
- Clearing and Settlement Services
References
- ^ a b "The Hindu Business Line: Stock Holding to launch e-stamping in Maharashtra". Thehindubusinessline.in. 2 May 2008. Retrieved 25 February 2011.
- ^ "Stock Holding Corporation launches e-stamping facility". Thaindian.com. Retrieved 25 February 2011.
- ^ "Shcil Online - A B O U T U S :: C O N T A C T U S". Stockholding.com. 6 January 1998. Retrieved 25 February 2011.
- ^ a b "A Summer Training Project Report on "STOCK HOLDING CORPORATION OF INDIA LIMITED"". academia.edu. Retrieved 23 October 2019.
- ^ "Stock Holding Corporation of India Limited Teaser Document" (PDF). ifciltd.com. Retrieved 23 October 2019.
- ^ url=https://economictimes.indiatimes.com/wealth/spend/another-gold-buying-option-gold-accumulation-plan-or-digital-gold/articleshow/61111637.cms?from=mdr | title="Here are two ways to buy gold online" | date=