Client bank accounts.
Disclosure of bank accounts designated for receipt and segregation of client funds, made under NSE Circular NSE/INSP/55402 and BSE Notice 20230127-42 (both 27-Jan-2023), per SEBI's Upstreaming framework (SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated 08-Jun-2023).
About client bank accounts.
SEBI regulations require stockbrokers to keep client funds strictly segregated from the stockbroker's own funds. Client funds are received and held in designated bank accounts known as Upstreaming Client Nodal Bank Accounts (USCNBA) — the nomenclature mandated by the SEBI Upstreaming Circular dated 08-Jun-2023. Funds in these accounts cannot be commingled with the broker's own bank accounts and cannot be used by the broker for proprietary purposes.
The disclosure below is made under NSE Circular NSE/INSP/55402 and BSE Notice 20230127-42, both 27-Jan-2023. The same accounts are also disclosed by NSE under Know / Locate your Stock Broker and by BSE under Member Directory.
All client payments to DealDepot must be made into the accounts listed below. Payments must never be made to a personal account of any employee, director or Authorised Person of DealDepot.
Designated USCNB account.
Note: The above account is the designated Upstreaming Client Nodal Bank Account (USCNBA) reported to NSE and BSE. Any change is updated on this page within one week and reported to the Exchanges.
UPI handles.
Clients may also remit funds via UPI to the following Verified Payee handles maintained by DealDepot:
Both handles are registered under the @validhdfc Verified Merchant directory. Any UPI handle bearing the DealDepot name on a different banking suffix is not authorised and must be reported.
Virtual Pocket Account.
For NEFT / RTGS / IMPS transfers, DealDepot operates a Virtual Pocket Account system at HDFC Bank that auto-credits incoming funds to the correct trading account in real time. The virtual account number is constructed from your Unique Client Code (UCC):
Funds remitted to a correctly-formed virtual account are credited to your trading account instantly. Funds remitted to the main USCNB account in Section 02 are credited on a same-day basis once mapping to UCC is confirmed.
Mandated regulatory note.
How to remit funds.
Client funds may be remitted by:
- NEFT / RTGS / IMPS from your KYC-registered bank account, to the Virtual Pocket Account (preferred — auto-credit) or to the main USCNB account (Section 02). Quote your UCC in the remarks field.
- UPI from your KYC-registered bank account to the relevant Verified Payee handle in Section 03.
- Cheque drawn from your KYC-registered bank account, made payable to DealDepot Brokerage Pvt Ltd.
Settlement of client funds.
Per the SEBI Investor Charter, settlement of client funds follows the Running Account Settlement (RAS) framework: every 30 days if you have opted for monthly settlement, or every 90 days if you have opted for quarterly settlement. Where you have not provided RAS consent, credit balances are returned within 24 hours of pay-out.
Reporting concerns.
If you suspect that any communication or instruction asking you to remit funds is suspicious — for example, asking you to send funds to a personal name, to an account not listed above, or to a UPI handle other than the two listed in Section 03 — please do not remit. Instead, contact our Compliance Officer immediately at compliance@dealdepot.in or call +91 22 6917 5201.
9 out of 10 individual traders in equity F&O segment incurred net losses. On average, loss-makers registered net trading loss close to ₹50,000. Over and above the trading losses, loss-makers spent an additional 28% of the loss as transaction cost. Even those making net trading profits incurred between 15% and 50% of such profits as transaction costs.
Source: SEBI study dated 25-Jan-2023 — Read the full study.