Short answer

CDSL has introduced a mode of operation feature for joint demat account holders that enables any account holder to carry out specific operations without requiring signatures from other account holders. Previously, all account holders needed to sign for operations in a joint demat account.

The mode of operation is only applicable for the following operations:

Off-market transfer: Any account holder can transfer securities to other demat accounts without requiring the signatures of other account holders.

Pledge: Any account holder can pledge securities with a bank or any NBFC without requiring the signatures of other account holders.

Freeze/unfreeze: Any account holder can freeze or unfreeze the securities in the demat account without requiring the signatures of other account holders.

How to enable mode of operations for existing joint demat accounts

To enable the mode of operations for your existing joint demat account with Arrow:

Print out the mode of operations form (PDF).

Fill in the demat account number column with the 16-digit demat ID.

Select the option Anyone of the holders or survivor(s) by ticking the appropriate box.

Obtain the signatures of all joint account holders on the form.

Courier the form to: iRage Customer Support Centre 192A 4th Floor, Kalyani Vista, 3rd Main Road, JP Nagar 4th Phase, Bengaluru, 560076

The mode of operations will be enabled within 72 hours of receiving the form.

How to enable mode of operations for new joint accounts

When you open a new joint demat account, you can enable this feature by ticking the box next to Anyone of the holder or survivor(s) on page 16 of the joint demat application form. If you prefer joint operations, tick Jointly instead.

Broker details

iRage Broking Services LLP (SEBI registration INZ000011262), product name Arrow. Registered office: Gift City, Gandhinagar.