In stock trading, the CDSL TPIN is very useful. It’s a six-digit password that authorises the broker to deduct the selected stock from the CDSL’s Demat account for a period of up to 90 days. A TPIN acts as a PoA and can thus be considered it’s alternate.
Your Demat account will get an additional degree of security as a result of this. To validate the transaction, you’ll need to enter a unique One Time Sell Authorisation pin delivered to your cell phone. CDSL generates the PIN and sends it to your phone number.
Check out this blog to learn more about TPIN and how to produce, reset, and use CDSL TPIN in just a few easy steps.
What is CDSL TPIN?
In June of 2020, the CDSL TPIN was introduced. CDSL TPIN is a 6-digit password that enables consumers to authorise Demat transactions or stock sales from their account.
Customers receive their CDSL TPIN straight from the CDSL. Customers can also use an OTP obtained on their phone to reset their pin online at any time.
When selling stocks, the TPIN is utilised for e-DSL verification. Using a CDSL TPIN protects investors because brokers are unable to tamper with it lawfully at any time. Let’s look at what TPIN is and how it can help you.
How to generate the CDSL TPIN?
If the consumer does not have a CDSL TPIN, he or she can generate one for themselves. You can produce the CDSL TPIN by following the steps outlined below:
- Go to the link and click it https://edis.cdslindia.com/home/generatepin
- Enter your BO Id, which is your Demat Account Number, as well as your PAN Card Number.
- Login to your broker’s mobile app or trading terminal to obtain your Demat Account Number.
- CDSL will email you an OTP to the registered cellphone number once the information is entered (the number that is linked to your Demat Account).
- In the necessary field, type the OTP.
- CDSL will send you your TPIN through email or SMS to your registered email address and mobile number after you enter the OTP.
You may also read about: Difference between IPO and FPO
How to Use CDSL TPIN?
Customers use the CDSL TPIN to authorise the selling of shares from their account. Customers can use their CDSL TPIN by following these steps:
- Select the stock you want to sell from the stocks Dashboard on your stock broker’s website or mobile app.
- To complete the sale of the selected share, pick the ‘Verify Sale’ option.
- Look for the ‘Verify with TPIN’ option and click it, or you can request a new TPIN. If you request a new TPIN, it will take up to 6 minutes for the new TPIN to be activated.
- The user is taken to the CDSL page, where he or she must input the TPIN and then confirm it. The TPIN was sent to the customer by email or text message.
- The consumer is then led to another page on the broker’s website or mobile app where the sale order can be finalised once the TPIN has been verified.
5 Benefits of CDSL TPIN
The CDSL TPIN, which was recently introduced, provides the following advantages to Demat Account holders:
- It makes Demat Account transactions safer and more secure by removing the need to sign the Demat Account PoA with the stock broker.
- The TPIN allows for more control over the authorization of transactions made through the Demat Account.
- Every Demat withdrawal transaction that takes place through your account requires a CDSL TPIN, especially if you have not signed a Power of Attorney with your stock broker.
- Because the TPIN is administered by the CDSL, it is very difficult for a stock broker to misuse or manipulate it for their own benefit.
- The entire procedure of opening a demat account becomes fully paperless with the CDSL TPIN. Previously, the requirement to sign the PoA made it a paper procedure because the PoA could only be signed and filled out on paper.
You may also read about: How can I apply for an IPO?
How to reset CDSL TPIN?
The CDSL TPIN can be changed or reset online by the customer to improve the safety and security of his or her Demat Account transactions.
The method of modifying the CDSL TPIN is similar to that of producing a new TPIN. To reset CDSL TPIN, follow the procedures below:
- Visit cdslindia.com for more information.
- Change your eDIS TPIN by clicking on the link on the right side.
- Enter your Demat Account Number, which is a 16-digit BO ID.
- Click the ‘Next’ button after entering the PAN Card Number.
- Enter the one-time password (OTP) sent to the registered mobile number.
- The new or modified TPIN will be sent to you by SMS and email.