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CDSL re-launches LoTUS tariff scheme and continues zero custody charges
In order to provide benefits to investors who are frequent buyers and sellers of securities and intermediaries (like sub-brokers) having a large number of transactions in their demat accounts, CDSL has devised an innovative and extremely beneficial scheme titled, "LoTUS" which stands for Low Tariff Unlimited Service. CDSL's LoTUS scheme was open from April 1, 2002 to July 15, 2002 and met with overwhelming response.
Since the closure of the LoTUS scheme, the demand from investors and CDSL DPs to re-introduce the scheme has continued. In response to this demand, CDSL has decided to reopen the LoTUS scheme for registration for a limited period - from September 2, 2002 to September 30, 2002. To those demat accountholders who register in September, the benefits under the scheme will be available for one year from October 1, 2002 to September 30, 2003.
It may be recalled, that under the LoTUS scheme, CDSL levies extremely modest monthly flat fees on DPs in respect of registered Beneficial Owners (investors) opting for the LoTUS scheme. This monthly charge includes ALL debit transactions, set-up, cancellation and invocation of pledge in a month.
With CDSL continuing its policy of not charging any custody fees for holding balances in demat accounts, and having minimum debit transaction fee at Rs. 5/- only, ALL investors can reap benefits of the CDSL system.
