StockHolding Corporation of India

Last updated

StockHolding Corporation of India Limited
Type Public sector undertaking
Industry Stock market & Financial services
Founded1986, Mumbai
Headquarters,
Area served
Custodial Services
Depository Services
E-stamping
Key people
Shri Manoj Mittal (Non Executive Chairman)

Shri Manoj Parida (OSD) (On deputation from IFCI)
Shri Vinay E. Purohit (Chief Financial Officer)

Shri Shashikant L. Nayak (Company Secretary)

Contents

Services Depository participant
Stockbroker
Derivatives
Mutual funds
Demat account
E-stamping [1]
Website www.stockholding.com

Stock Holding Corporation of India Limited (SHCIL) is an Indian custodian and depository participant, based in Navi Mumbai, Maharashtra. [2] SHCIL was established in 1986 as a public limited company and is a subsidiary of IFCI. 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. [1]

Corporate structure

The Stock Holding Corporation has three subsidiaries: [3]

Operations

Domestic presence

SHCIL has over 200 branches and in 141 cities around India.

GIFT IFSC presence

SHCIL's subsidiary, StockHolding Securities IFSC Limited, is operating out of India's first International Financial Services Centre at GIFT City, Gandhinagar, Gujarat, catering to EFIs (Eligible Foreign Investors), FPIs & NRIs from FATF compliant jurisdictions as of now. [4] [ when? ]

E-Stamping

The main e-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 services

Stock Holding offers numerous financial services along three main branches: personal, corporate and custodial services.

Personal services

Some of the personal services they offer include:

GoldRush

A platform that allows users to buy gold online and is one of the only two ways to do so in India. [5]

Corporate services

Custodial services

Custodial services include any safekeeping, administration, transaction and further activities done on behalf of a company by its custodian, and include:

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References

  1. 1 2 "The Hindu Business Line: Stock Holding to launch e-stamping in Maharashtra". Thehindubusinessline.in. 2 May 2008. Retrieved 25 February 2011.
  2. "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.
  3. "Stock Holding Corporation of India Limited Teaser Document" (PDF). ifciltd.com. Retrieved 23 October 2019.
  4. "Home". stockholdingifsc.com.
  5. Motiani, Preeti (6 May 2019). "Here are two ways to buy gold online". The Economic Times. ISSN   0013-0389 . Retrieved 1 August 2023.