How Can I Register for CDSL Easiest Using My Demat Account?

CDSL EASIEST is an initiative by Central Depository Services Ltd. (CDSL) that
allows you to access your
demat account details
from anywhere using the CDSL website. Once you’ve done CDSL EASIEST
registration, you are provided a login ID and password which you can use for
logging in. What is CDSL EASIEST, what purpose does it serve, and how to
register for CDSL EASIEST? Read on to find out.

What is CDSL EASIEST

EASIEST stands for Electronic Access to Securities Information and Execution
of Secured Transaction. Every time you make a buy or sell transaction using
your demat account, it goes through a number of intermediaries beginning with
your depository participant (DP) who also acts as the broker, to the stock
exchange such as
NSE
or
BSE. Since the advent of online trading using demat accounts, centralized
depositories have also been included in the process.

A centralized depository keeps track of the ownership of
shares
in a dematerialized trading environment. India has two major centralized
depositories – the CDSL and
NSDL. Even though a buy or sell transaction may show up on your screen, clearance
usually takes T+2 business days where T is the date on which the transaction
was initiated. Once you initiate a transaction, it goes through the following
steps:

1. Shares are transferred first to your DP’s pool account.
2. Funds are cleared from your bank account.
3. The shares are finally transferred to your demat account.

Sometimes, the shares may not be transferred to your demat account and might
be kept with the DP’s pool account. This means that even though you have
paid for the shares, you still do not own them. This is where CDSL EASIEST
comes in. It allows you to constantly monitor the details of your demat
account to ascertain whether the trades you have executed are reflecting your
ownership or not. CDSL EASIEST also comes in handy when you need to transfer
shares from one demat account to another.

How to Register for CDSL EASIEST?

Before beginning the CDSL EASIEST registration process, you need to keep the
following details handy :

8-digit depository participant (DP) ID or CM ID which Is the ID of your
broker. CM stands for Clearing Member.

Your BO ID. BO stands for Beneficial Owner. This is usually an 8-digit number.

Once you have these details handy you begin the CDSL EASIEST registration
process:

Step 1: Head to the website of CDSL at
www.cdslindia.com and click on
“Login”.

Step 2: Click on “My Easi New (Token)” then click
on Login.

Step 3: On the
login page,
click on the option saying “Click Here” next to “To register
for Easiest”.

Step 4: On the next page, enter your DP ID and Client ID also
tick the check box to agree to the terms and conditions to continue.

Step 5: Enter OTP received on the registered mobile number
and press “CONTINUE”.

Note:
The OTP is valid for 15 minutes only and you will have to request for a new
OTP if the OTP is not entered within 15 minutes

Step 6: Enter the required information under the
“ACCOUNT DETAILS” section and put a tick next to “Trusted
Account (Pin)” and click “CONTINUE”.

Step 7: Enter the BO ID of the trusted account. Thereafter,
click on “SUBMIT” and then “CONTINUE”.

Step 8: Enter the OTP received on your registered mobile
number.

Step 9: Your work is done! The request for mapping your
trusted account is sent to your DP. Press “OK” to end the
process.

Note: After you finish the CDSL EASIEST registration, it can take between 24 to
48 hours to get activated. 

Benefits of CDSL EASIEST Registration

1. It allows you to view statements of your current holdings as well as
   financial statements of all transactions on your demat accounts for the past
   365 days. You can also download or print these details.
2. In case you have multiple demat accounts, CDSL EASIEST Registration allows
   you to view statements of multiple demat accounts through a single login on
   the CDSL portal.
3. You can transfer securities to other demat accounts using CDSL EASIEST.
4. You can view consolidated account statements and you can print your holding
   statements based on the valuation of your holdings as per the previous
   day’s closing price.
5. No need to provide an instruction slip to the DP for debit transactions.

Final Words

Now that you know the full process of
registering for CDSL EASIEST, operating your demat account becomes much
simpler. If you are yet to open a demat account, do your research and find a
trusted broker to
open a demat account
with.