how to change my DP?

i have a demat account in oriental bank of commerce. now i want to close that account and transfer the demat shares in another bank like hdfc or icici for online trading. is it possible and how to go about it??

Hi Raja,

Open the new DEMAT account. When you had opened the old trading account in Oriental Bank of Commerce, you will have received a "Delivery Instruction Slip" booklet. It is like a cheque book for DEMAT account. You have to fill these slips appropriately and give to your new DP. You new DP/broker will help you with the details.

The transfer is charged on a per scrip basis. I think it was around Rs. 20 per scrip. Get it confirmed from your broker.

what is off market transaction. is it same as filling slip and transfering the shares..

Off Market transactions are transfers which are not towards pay-in laibility for trades done on Stock Exchanges....so transfer from one person to other person,transfer between relatives etc will come under this catagory. One has to specify reasons for these transfers and the consideration if any.....

Smart_trade