At FYERS, we understand that some clients may have reservations about granting Power of Attorney (POA) for their Demat accounts. Without a POA, traditionally, clients were required to submit Delivery Instruction Slips (DIS) physically to carry out the sale or pledge of shares – a process that could be cumbersome and time-consuming, especially for active investors.
It's important to note that the POA we request is specific, not general. It is limited to allowing transactions solely for the purpose of trade settlements. With a POA, you are not giving unrestricted access to your account; instead, you're authorizing the broker to handle transactions for settlements. Clients receive transaction-related information such as contract notes and account statements on a timely basis to keep them informed about their Demat account activities.
To streamline the process, FYERS has embraced the Electronic Delivery Instruction Slip (EDIS) system. This innovation allows clients to sell their holdings using a TPIN instead of submitting a POA. For further details on how this works, please refer to our blog about EDIS.