StockHolding Corporation of India
 | |
| Company type | [PSU] |
|---|---|
| Industry | Stock Market & Financial Services |
| Founded | 1986, Mumbai |
| Headquarters | , |
Area served | Custodial Services Depository Services E-stamping |
Key people | Shri Ramesh NGS (Chairman) Shri Rohinton Hirji Mewawala (Chief Operating Officer) |
| Services | Central Depository Services Broker Derivatives Mutual Funds Demat account E-stamping[1] |
| Website | www |
Stock Holding Corporation of India Limited (SHCIL) is India's largest[2] custodian and depository participant, based in Mumbai, Maharashtra.[3]
SHCIL was established in 1986 as a Public Limited Company and is a subsidiary of IFCI. SHCIL is known for its online trading portal, with investors and traders.[4] 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]
Mission statement
"To be a world class technology driven and client focused market leader in financial and technical services"
Corporate structure
The Stock Holder Corporation is mainly split into two separate entities under the SHCIL umbrella:[5]
- SHCIL Services Ltd (stock brokering services)
- StockHolding Document Management Services Limited (provides end-to-end document storage and digitization services)
Operations
Domestic presence
SHCIL has over 200 branches and in 100 cities around India, it currently caters to 50+ million customers.[4]
E-Stamping
The maine-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:
- Demat Account
- Insurance
- Mutual Funds
- NPS (Retirement)
- GOI Bonds (Government of India)
- IPOs
- Stock Holding
GoldRush
A platform that allows users to buy gold online and is one of the only two ways to do so in India.[6]
Corporate services
- Demat services for business
- CSGL services (government bonds)
- Trading accounts
- NPS accounts
- Bullion (gold and silver)
Custodial services
Custodial services include any safekeeping, administration, transaction and further activities done on behalf of a company by its custodian, and include:
- Fund accounting
- FDI (Foreign Direct Investment)
- Company Valuation
- Vaults
- Customized Reporting
- Electronic and Physical Safekeeping Services
- Clearing and Settlement Services
Awards and recognition
The following awards have been presented to SHCIL [7]:
- First Asian Company to be bestowed with the Smithsonian Award for "Visionary use of IT"
- The Computer Society of India - National IT Award for "Best IT Usage"
- NSDL Award for "Largest Assets Under Custody" for 5 consecutive years (2012 - 2017)
- Accreditation in 2016, 2017 and 2018, respectively, by Global Custodian as "Market Outperformer and Category Outperformer"
- The "Best Custodian" for 2018 by Association of International Wealth Managers India
References
- ^ a b "The Hindu Business Line: Stock Holding to launch e-stamping in Maharashtra". Thehindubusinessline.in. 2 May 2008. Retrieved 25 February 2011.
- ^ "Stock Holding Corporation launches e-stamping facility". Thaindian.com. Retrieved 25 February 2011.
- ^ "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.
- ^ a b "A Summer Training Project Report on "STOCK HOLDING CORPORATION OF INDIA LIMITED"". academia.edu. Retrieved 23 October 2019.
- ^ "Stock Holding Corporation of India Limited Teaser Document" (PDF). ifciltd.com. Retrieved 23 October 2019.
- ^ url=https://economictimes.indiatimes.com/wealth/spend/another-gold-buying-option-gold-accumulation-plan-or-digital-gold/articleshow/61111637.cms?from=mdr | title="Here are two ways to buy gold online" | date=
- ^ "Custodial Brochure" (PDF). goldrushonline.net. Retrieved 23 October 2019.