How do I register for CDSL the easiest way using my Demat account?

CDSL EASIEST, an initiative of the Central Depository Services Ltd. After you have completed CDSL EASIEST registration you will be given a login ID/password that you can use to log in. How do you register for CDSLEASIEST? What's the purpose of CDSL EASIEST registration? Continue reading to learn more.

What's the EASIEST?

EASIEST stands to Electronic Access to Securities Information and Execution of Secured Transaction. Your demat account's depository participant (DP), acts as the broker and then proceeds to the stock exchange, NSE or BSE. Online trading has been possible since the introduction of centralized depositories. In a dematerialized trading environment, a centralized depository tracks the ownership of shares. India has two main centralized depositories: the CDSL (central) and NSDL (central). Clearance usually takes between T+2 and T+5 business days, depending on the date of the transaction. The following steps are required to complete a transaction once it is initiated:

1. Your DP's pool account is first to receive shares.
2. Your bank account will clear the funds.
3. Finally, the shares are transferred to your demat account.

Sometimes the shares might not be transferred into your demat account, but may be kept in the DP's pool. You do not have ownership of the shares even though you have purchased them. CDSL EASIEST is here to help. You can monitor your demat account details to see if trades executed reflect your ownership. CDSL EASIEST is also useful when you want to transfer shares between demat accounts.

Register for CDSL EASIEST!

These details are important to remember before you begin the CDSL EASIEST registration process:

8-digit ID for depository participants (DP) or CM ID, which is the ID of your broker. Clearing Member stands for Clearing Member.

Your BO ID. BO stands for Beneficial Owner. This number is often 8-digits.

These details will be helpful in completing the CDSL EASIEST registration.

1. Log on to the website of CDSLwww.cdslindia.comand head to the Register Online tab on the homepage. Select EASIEST from a list of choices.
2. Enter your DP ID, followed by your BOID. These details will be followed by your email ID and your phone number. The (OTP), will be sent to your registered mobile number.
3. To verify your number, enter the OTP you received.
4. After you have entered your account details, you will be asked to choose the type account. There will be two types of accounts:

• Trusted account transfers - This option allows you transfer securities to any 4 demat accounts that are registered with CDSL.
• Account Of Choice Transfer - This option allows for the transfer of securities to any demat account. This option allows you to verify transactions using a digital signature.

You can choose the option that is most relevant to you. The Trusted Account Transfer option for retail investors is highly recommended.

1. Enter the BO number of the Trusted Account to which securities are to be transferred if you have selected it.
2. Next is grouping. These can be added to CDSL accounts that you have with other brokers. This step can be skipped if you do not have any CDSL registered accounts with other brokers.
3. After clicking on Submit, you can complete your CDSL EASIEST registration.

It can take up to 48 hours for your CDSL EASIEST registration to be activated.

Benefits CDSL EASIEST registration

1. You can view your current holdings and financial statements for all transactions made on your demat accounts in the past 365 day. These details can be downloaded or printed.
2. CDSL EASIEST Registration allows you to view statements from multiple demat accounts using a single login through the CDSL portal.
3. CDSL EASIEST allows you to transfer securities into other demat accounts.
4. You can view your consolidated account statements, and you can also print your holding statements. These statements are based on the closing price of the previous day.
5. There is no need to give an instruction slip to the DP in order to make debit transactions.