Upstox has always strived to give you a superior trading and investment platform that is smooth, state-of-the-art and 100% secure. As a measure towards securing your holdings, Upstox was one of the first brokers in the country to allow selling of Demat holdings without mandating the submission of a Power of Attorney while opening an account. The authorization for selling any of your holdings was taken on our platforms via an Electronic DIS (delivery instruction slip) that popped-up on the order entry screen. This E-DIS would be authorised by the customer by entering a unique OTP sent by Upstox on the registered email id and mobile number of the customer.
Here’s some more details about the current E-DIS process:
While this process ensured an additional layer of security on every Demat holding sell-transaction, one of it’s biggest drawbacks was that every customer (who has not submitted a POA) has to go through this process every time they place a fresh sell order or modify an existing sell order of their holdings.
After having followed the then most convenient and safest way to authorize sell transactions for Demat holdings for nearly 2 years now, we are glad to introduce an update to this E-DIS process, which will significantly reduce the effort for a customer to sell their Demat holdings.
SEBI recently sent out a regulation that instructed all depositories (CDSL in our case) to take the customer’s authorization on their respective web portals, thereby adding an extra layer of security in the authorization process. A great news for you traders is that you now need to only authorize the first transaction of that particular trading day and any modifications or further sell orders shall not need to be authorized on that particular trading day.
All you need to get started with this new process is a TPIN, that will replace the OTP from the existing process. We will be sending across your TPIN in the next 48 hours.
Alternatively, if you wish to gain a headstart you can also generate a TPIN from the Profile/ My Account section next to your name from the main menu on our mobile and web platforms. You can click on the ‘Get new PIN’ button (as shown below) and you will receive the TPIN from CDSL via SMS and email. This TPIN won’t expire until you generate a new one.
Once you receive or generate your TPIN, all you need to do is use it to authorize any sell order that you place of your Demat holdings. The authorization process will be a 3-step one and will be slightly different from the current process.
Here’s what the new E-DIS process will look like:
Step 1: Click on ‘Review’ on your order entry screen (while placing a sell order for your holdings). This will open a new page/window, which will ask you to authorise the transfer of shares from your Demat account to the Upstox pool account via E-DIS.
Step 2: Click on ‘Continue’. You will be redirected to the CDSL web page, where you need to input your TPIN and confirm the transaction. You will also be able to see your holdings along with the quantity on this page.
Step 3: Once you enter your TPIN, you will be redirected to the status page, which will show a success or failure status (along with the reason). You need to now close this page and return back to our web or mobile platform.
In case of a successful entry of the TPIN, the Upstox platforms will take the customer to the confirm order entry screen and the order can be successfully placed. If you wish to sell any additional holdings on the same trading day, you do not need to go through the TPIN authentication process once again.
We shall be rolling out this new update in phases, and your pre-generated TPIN shall reach you in the next 48 hours. This new process should also start reflecting on the Upstox platforms in the next 10 days.
We hope this new E-DIS process helps make your trading experience smoother and simpler!