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Stock Holding Corporation of India Limited (StockHolding) is an Indian custodian and depository participant, based in Mumbai, Maharashtra.[2] StockHolding was established in 1986 as a public limited company and is a subsidiary of IFCI. StockHolding became a subsidiary of IFCI Limited on April 7, 2015, which is a Government Company. Being a subsidiary of a Government Company, StockHolding and its subsidiaries are also Government Companies. 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]
StockHolding Securities IFSC Limited (A SEBI registered intermediary operating out of GIFT IFSC, Gandhinagar, Gujarat, and catering to Eligible Foreign Investors (EFIs), FPIs and NRIs from FATF compliant jurisdictions as of now)
Operations
Domestic presence
StockHolding has over 200 branches and in 141 cities around India.
GIFT IFSC presence
StockHolding'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
StockHolding 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
National Pension System (Retirement)
GOI Bonds (Government of India)
IPOs
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
Demat services for business
CSGL services (government bonds)
Trading accounts
NPS accounts
Custodial services
Custodial services include any safekeeping, administration, transaction and further activities done on behalf of a company by its custodian, and include:
