easi
Also written Electronic Access to Securities Information
CDSL's internet facility for viewing a demat account — real-time holdings, instruction status, past transactions and daily portfolio valuation — with no ability to submit debit or credit instructions.
In plain language
CDSL gives its account holders two internet facilities with near-identical names, and the exam turns on telling them apart. easi is short for Electronic Access to Securities Information, and it is strictly for looking — an account holder logs in to see their holdings, not to move them.
How it works
Through easi, a beneficial owner can:
- View demat account holdings in real time;
- Download transaction statements;
- Check the status of instructions already submitted (through some other channel); and
- See a daily valuation of the stocks held in the demat account, along with the aggregate portfolio value.
What easi does not let the holder do is submit a debit or credit instruction — no off-market transfer, no pledge, no freeze. For that, CDSL offers its sibling facility, easiest (Electronic Access to Securities Information and Execution of Secured Transaction) — the extra letters in its name are exactly the extra capability it adds. Clearing Members can also use easi (alongside NSDL's IDeAS) simply to check deliveries received into their settlement account.
A worked example
Mr Pillai wants to check how his demat portfolio has performed after a volatile week in the market. He logs into easi, sees his current holdings valued at that day's prices, downloads a transaction statement covering the past quarter, and confirms that an off-market transfer he initiated earlier through his DP has been processed and shows as completed.
What he does not do through easi is initiate anything new — if he had instead wanted to pledge 200 of his shares to a lender, he would need to log into easiest, not easi, since easi has no facility to submit that instruction at all.
Why NISM asks about it
Chapter 5 (Functions of DP — Account operations) introduces easi among CDSL's internet-based facilities; Chapter 8 (Functions of DP — Trading and Settlement) repeats it in the context of a Clearing Member checking settlement deliveries. Expect the standard discriminator question: which CDSL facility only allows viewing, and which allows submitting instructions — easi is the answer to the first, easiest to the second.
Common exam traps
- easi views; easiest executes. This is the single most tested fact about either facility — do not let the near-identical names blur the distinction.
- easi is CDSL-specific. NSDL's equivalent viewing facility is IDeAS, not easi — do not mix the two depositories' branding.
- Daily valuation, not real-time valuation of the portfolio's rupee value — holdings and instruction status are real time, but the portfolio valuation feature is described as a daily valuation.
- A Clearing Member checking settlement deliveries can use either NSDL's IDeAS or CDSL's easi — the choice depends on which depository the CM's account sits with, not on any functional difference for this specific purpose.
Check yourself
1.IDeAS is a facility that allows a demat account holder to:
- a)Submit delivery instructions over the internet
- b)View balances and transactions in the demat account, updated online with a delay of maximum 30 minutes
- c)Pledge and unpledge securities online
- d)Open a demat account online
Show the answer
Answer: (b) View balances and transactions in the demat account, updated online with a delay of maximum 30 minutes
IDeAS is the facility for viewing balances and transactions in the demat account updated on an online basis with a delay of maximum 30 minutes.
NSDL has launched a facility called IDeAS from January 1, 2004 for investors to view balances and transactions in demat accounts updated on an online but not real time basis.
It views; it does not transact. That is the whole distinction from SPEED-e, and option A describes SPEED-e: SPEED-e enables demat account holders (including Clearing Members) to submit delivery instructions directly on the Internet.
What IDeAS shows: IDeAS enables Clients (Beneficial owners) to view the latest balances and transactions that have taken place in the last five days... Clients now are able to view the transactions for a period of past 30 days. Clients can select the period upto 30 days from the current date.
Who can use it: the users of SPEED-e, clearing members who have subscribed to IDeAS and to those clients whose DPs are registered for IDeAS, either as a Password or a Smart Card/e-Token User.
Enhancements display values for mutual fund units (security type code '20')... based on the NAVs, price/face value and indicative value... in respect of non-convertible debentures, bonds, ETFs, unlisted equity shares, and the price as of the previous date and value in respect of ISINs pertaining Sovereign Gold Bonds.
For clearing members: they can view and download latest balances and transactions executed in their CM Pool accounts in respect of settlements for the current pay-in date, previous four and next four pay-in dates.
The CDSL equivalent is easi — Electronic Access to Securities Information — whereby beneficial owner can view their demat account holding, download the transaction statements.
2.Which CDSL facility permits a beneficial owner to submit transaction instructions and to pledge securities?
- a)easi
- b)easiest
- c)SMART
- d)IDeAS
Show the answer
Answer: (b) easiest
easiest — Electronic Access to Securities Information and Execution of Secured Transaction — which permits BOs/CMs to submit debit/credit transaction instructions to effect off-market, on-market, inter-depository and early pay-in of transactions, freeze/unfreeze and pledge, unpledge and confiscation.
Option A is the viewing facility: easi — Electronic Access to Securities Information — whereby beneficial owner can view their demat account holding, download the transaction statements.
Option C is the SMS alert registration, and option D is NSDL's viewing facility, not CDSL's.
The extra capabilities of easiest:
Through the easiest facility, the BO can freeze their demat account at BO level, ISIN level as well as can initiate partial level freeze.
The BO can pledge the securities as a pledgor, and Pledgee BO can accept the pledge as a pledgee if both the BOs are registered for CDSL's easiest facility. Further, the pledgee can execute the confiscation if the pledgor fails to fulfill the obligation.
BO also has the facility to initiate the pledge for the purpose of Margin from their easiest login. CM has the facility to accept the Margin pledge from its easiest login as a pledgee and the CM has the facility to re-pledge the securities to the CC as a pledgor.
Registration differs by holding pattern: a sole holder beneficial owner is not required to submit any registration forms to DP for authentication nor the trusted account declaration in case of easiest trusted account user. In case of a beneficial owner holding a joint demat account, the beneficial owner is required to submit the duly signed registration form to the DP for authentication.
And nomination can be handled there: the sole holder BO can update the nomination details or opt out of nomination details in their demat account through CDSL's easi/easiest facility as well as from the website of CDSL.
3.SCORES is a web based centralized system to capture investor complaints against:
- a)Listed companies and registered intermediaries
- b)Unlisted companies only
- c)Banks and insurance companies
- d)Any commercial entity in India
Show the answer
Answer: (a) Listed companies and registered intermediaries
SEBI Complaints Redress System (SCORES) platform is a web based centralized system to capture investor complaints against listed companies and registered intermediaries and is available 24x7.
It was introduced on June 8, 2011 and has been facilitating redressal of investor grievances in a speedy manner.
That scope explains the first exclusion on the list: complaints against unlisted/delisted companies, or companies on dissemination board of stock exchanges (except those related to securities valuation) are excluded from SCORES processing.
Option C strays into other regulators' territory, which is also excluded — complaints falling within the jurisdiction of other regulatory bodies/ministries.
How complaints are filed: SEBI encourages investors to lodge complaints through electronic mode in SCORES. However, complaints received from investors in physical form are also digitized by SEBI and uploaded in SCORES. Thereafter, follow-up actions of the complaint are done in electronic form only i.e. through SCORES.
Why electronic filing helps: investors can easily access, retrieve and preserve the complaints lodged by them in electronic mode. Further, it enhances the turnaround time and speed of redressal of a complaint.
Where to get help: investors may contact the Investor Associations (IAs) recognized by SEBI for any assistance in filing complaints on SCORES, or use SEBI's toll free helpline number 1800 266 7575 or 1800 22 7575.
And the current version: SEBI launched the new version of the SEBI Complaint Redress System (SCORES 2.0) on April 01, 2024, at https://scores.sebi.gov.in
Where this is taught
Free preparation for NISM Series VIRelated terms
- Depository participantThe SEBI-registered agent through whom an investor reaches a depository — NSDL and CDSL cannot open investor accounts themselves, so every demat account is opened and operated through a DP.
- easiestCDSL's internet facility (Electronic Access to Securities Information and Execution of Secured Transaction) through which BOs and CMs submit debits, credits, freezes, pledges and confiscations.
- IDeASInternet-based Demat Account Statement: NSDL's viewing facility, launched January 1, 2004, showing demat balances and transactions online, not real time, with a delay of at most 30 minutes.
- CDSLCentral Depository Services (India) Limited — one of India's two depositories, promoted by leading Indian banks and the Bombay Stock Exchange, registered in February 1999 and operational from 22 March 1999.