Enhancement of 4 Issuer services on NSDL issuer portal

NSDL
Technology, trust & Reach

Issuer Interface Circular

Circular No.: NSDL/CIR/II/5/2021

Date: March 25, 2021

Subject: Enhancement of Issuer services on NSDL issuer portal

All issuers / RTAs are hereby informed that as a part of our continuous endeavor to service the Issuers/RTAs, NSDL has enhanced its issuer portal. In respect of issuance of Commercial Paper, Issuers / RTAs are facilitated to make online application for allotment of ISIN and for execution of corporate action through issuer portal.

The enhanced services on issuer portal for Commercial Paper are given below:

A. Online submission of ISIN application for CP issuance:

Currently, issuer submits a master creation form (MCF) duly filled and signed by authorized signatories in physical manner to NSDL for allotment of ISIN. With the new online service, Issuer will be able to make an ISIN request for CP issuance to NSDL in expanded time frames and from anywhere directly through internet thereby eliminating the need to submit an ISIN application request in paper form.

B. Handling of process involved in CP issuance:

Currently the CP issuance process involves documents like letter of offer, deal confirmation note, IPA certificates, etc. being prepared and delivered in physical manner by Issuer, investors and IPAs thereby requiring considerable time and efforts. NSDL’s platform will facilitate Issuer, investors and IPAs to undertake CP issuance process online in efficient manner and in accordance with directions and operating guidelines issued by RBI and FIMMDA. Issuer / R&T Agents will be able to initiate the process to credit CP into the investor’s demat accounts directly.

C. Facility for IPAs to submit investors’ demat account details to NSDL and issuers:

In terms of FIMMDA’s operating guidelines for CPs on value date, on receipt of funds from the prospective investor, an IPA is required to provide a list such investors as per prescribed format (Annexure-VIII of FIMMDA’s operating guidelines for CPs) to the depository along with issuer/its RTA to credit CPs directly to the investor’s demat accounts. .

A separate facility enabling IPAs to upload the list in prescribed format through NSDL’s issuer portal has been provided. The issuer/R&T Agent will be able to view the details of demat accounts of investors provided by IPAs and initiate the process to credit CPs in such demat accounts of investors as provided by the IPA.

D. Facility for IPAs to download list of investors (Benpos Report) for carrying out Redemption:

FIMMDA’s operating guidelines for CPs require that at the request of IPAs, the depositories will furnish the list of investors/holders (Benpos Report) of CP as at the end of working day before the maturity date for carrying out redemption of CP. A facility enabling IPA has been provided on the CP platform to access and download the BENPOS files for CP ISINs handled by them.

Key Features:

1) Participants viz; Issuers, Investors, IPAs and RTAs will have a secured system and will be able to prepare, accept and submit documents like letter of offer, deal confirmation note, IPA certificates, in format prescribed in the RBI directions and FIMMDA’s operating guidelines for CP issuance.

2) Users will be able to access NSDL’s platform with secured two factor authentication viz; password based and digital signature certificates (DSC).

3) The system will have Maker-checker principle (or 4-Eyes concept) for authorization of any transaction / request thereby ensuring stricter control while users carry out their activities on the system, keeping in mind functional division of activities between users in an

4) Users will be kept abreast about the status of their requests and instructions through emails and SMS sent on their registered email IDs and mobile numbers.

For availing new online services for CP issuance, Issuers, Investors, IPAs and R&T Agents can register with NSDL by following the prescribed procedure.

Issuers / R&T Agents are hereby informed that they can avail the said services with immediate effect and with effect from May 1, 2021, it will be mandatory for Issuer/R&T Agents to avail the said facilty for CP ISIN allotment and submit request for execution of the corporate action to credit CP into the investor’s demat account directly.

For any queries in respect of registration and access / login credential, the issuer / RTAs may write to us on email ID viz., issuerprofile@nsdl.co.in and for operational queries you may write to us on email ID viz., cpcd.dep@nsdl.co.in. For CP related operations viz., Corporate Action and ISIN request, you may get in touch with following officials:

For and on behalf of

National Securities Depository Limited

Prathmesh Mungle
Senior Manager