StockHolding Corporation of India
|Industry||Stock Market & Financial Services|
|Shri Ramesh NGS (Chairman) |
Shri Rohinton Hirji Mewawala (Chief Operating Officer)
|Services||Central Depository Services|
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. 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.
"To be a world class technology driven and client focused market leader in financial and technical services"
The Stock Holder Corporation is mainly split into two separate entities under the SHCIL umbrella:
- SHCIL Services Ltd (stock brokering services)
- StockHolding Document Management Services Limited (provides end-to-end document storage and digitization services)
SHCIL has over 200 branches and in 100 cities around India, it currently caters to 50+ million customers.
The maine-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 servicesEdit
Stock Holding offers numerous financial services along three main branches: personal, corporate and custodial services.
Some of the personal services they offer include:
- Demat Account
- Mutual Funds
- NPS (Retirement)
- GOI Bonds (Government of India)
- Stock Holding
A platform that allows users to buy gold online and is one of the only two ways to do so in India.
- Demat services for business
- CSGL services (government bonds)
- Trading accounts
- NPS accounts
- Bullion (gold and silver)
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
- Customized Reporting
- Electronic and Physical Safekeeping Services
- Clearing and Settlement Services
Awards and recognitionEdit
The following awards have been presented to SHCIL :
- First Asian Company to be bestowed with the Smithsonian Award for "Visionary use of IT"
- The Computer Society of India - National IT Award for "Best IT Usage"
- NSDL Award for "Largest Assets Under Custody" for 5 consecutive years (2012 - 2017)
- Accreditation in 2016, 2017 and 2018, respectively, by Global Custodian as "Market Outperformer and Category Outperformer"
- The "Best Custodian" for 2018 by Association of International Wealth Managers India
- "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 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=
- "Custodial Brochure" (PDF). goldrushonline.net. Retrieved 23 October 2019.