Geojit BNP Paribas Demat Account POA

#1
hi friends,
I wanted to open a online Demat/trading account and personally enquired with Geojit BNP Paribas Financial services limited. For this the Manager suggested that I need to give Geojit the Power of Attorney, which is under the heading "POWER OF ATTORNEY FOR BROKING AND OTHER PRODUCTS AND SERVICES"(about 2 pages containing 14 points).

He suggested that this POA is required when I want to sell my shares online (i.e., Geojit will debit my demat account and credit its account with the shares).

If I don't sign this POA, he suggested there are 2 options :

(1) I would have to physically hand over the DIS (Delivery Instruction Slip) at the Geojit office, everytime I sell my shares online (basically a manual step in the online process).

(2) Sign up with NSDL and use the online Speed-e facility to send the DIS to Geojit after I sell my shares, so that they can take the process further.

As I have gathered on the net, that giving POA to the broker is not advisable, I would like to know if the 2 points mentioned above are the only ways to do online transactions, if POA is not signed.

Appreciate if you can provide inputs / experiences. Thanks.

Regards,
cg
 

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