Digital Efficiency With NSDL’s SPICE: POA Transactions Streamlined

SPICE Speeds Up Transactions For Auto Pay-In of Securities Based On POA, DDPI, e-DIS Mandate

NSDL's SPICE (Submission of Power of Attorney based Instructions for Clients Electronically) facilitates Clearing Members to submit instructions for the clients who have given Power of Attorney (POA) in favour of the Clearing Member and to streamline auto pay-in instructions.

This means that Clearing Members can direct Participants to debit demat accounts of the Clients and credit their Clearing Member (CM) Pool Accounts without any paperwork. Clearing members submit digitally signed instructions to the Participant, making the whole process efficient and faster.

NSDL has developed API for TM/CM to submit Early Pay-in instruction in respect of On Market Account Transfer instructions through SPICE Direct facility.