NSDL circular on -Enhancement in the NSDL SPEED‑e Application to enable off‑market transfer instructions for password‑based users
secmarkupdates
Issuer: NSDL
Participants are hereby informed that NSDL SPEED‑e Application has been enhanced from 30th of January 2026 to introduce the facility to initiate off-market transfer instructions between NSDL demat accounts for Password-based users.
The salient features of this new facility for SPEED-e Password Users are as follows:
1) SPEED-e Password based user is now enabled to submit Off‑Market Transfer instructions to other NSDL Demat account digitally through the SPEED‑e Website.
2) The instruction entry flow follows the same user experience and data‑capture format as the existing Off‑Market Transfer → ‘Delivery to Client’ module available to SPEED-e e-Token Users.
3) Client shall login to NSDL SPEED-e website and click on TAB of ‘Add Beneficiary’ under inquiries and Submit request for Addition of target Beneficiary demat account(s) of NSDL before initiating an Intra-Depository Off‑Market instruction. For further information, Participants are advised to refer NSDL Circular No. NSDL/POLICY/2023/0185 dated December 28, 2023.
4) As an additional security measure, each Off‑Market instruction submitted by a SPEED-e Password based user will require mandatory OTP-based authorization to validate and confirm the transaction.
5) Upon successful validation of OTP sent to the client’s registered mobile number and email address, the off-market transfer instruction will be submitted and proceed with the existing process, including validation of beneficiary details, fulfilment of stamp duty payment etc.
6) All submitted Off‑Market instructions will be processed in accordance with the existing operational guidelines and cut‑off timelines applicable under SPEED‑e facility
Participants are requested to take the note of the above and inform their clients about this new feature and accordingly provide operational guidance.