We’re happy to inform you that you can now operate your FYERS demat account without a POA! The power of attorney document enabled us to credit and debit securities into and out of your demat account. POA is a standard document that was introduced a long time ago in the stockbroking industry to circumvent the tedious offline DIS process for settlements & pledging shares. In recent times, a large number of retail investors have become victims of POA misuse and outright scandals by some brokerages who have taken consent to operate clients’ accounts with or without their knowledge. To prevent such rampant malpractices, CDSL introduced a way through which clients can operate their own accounts without having to give authority to a broker to operate it on their behalf. While hardly anyone expressed their reservations to the power instilled in favor of the POA holder (us) since we have transparent & compliant practices, we felt that clients should be in control of their own securities in their demat accounts. So, we implemented CDSL’s E-DIS (Electronic Delivery Instruction Slip) mechanism which enables clients to authorize the depository to debit securities from your demat account directly.
What is E-DIS?
Electronic Delivery Instruction Slip (E-DIS) is a facility that allows the clients to sell their holdings with the help of TPIN (Telephone Personal Identification Number), even if they’ve not submitted their Power Of Attorney (POA). Previously, clients had to submit POA or Physical DIS Slips to place a sell order in CNC but after the introduction of E-DIS, clients neither needed to submit POA nor the Physical DIS slips. All they need to do is enter the 6 digit TPIN they’d received from CDSL to authorize the sell orders for their holdings. This way clients can rest assured about the security of the holdings as they cannot be sold without their authorization.
How does it work?
The step-by-step process for pre-authorization is explained below:
When you place a Sell order in CNC, you’ll get a pop-up as shown in the picture below:
Once you click on ‘Yes’, a pop-up window of CDSL authorization page will appear as displayed below:
If you don’t know the TPIN, you can generate the same by clicking on “Forgot CDSL TPIN” as per the above image. A New CDSL TPIN will be generated and sent to your registered E-mail ID and mobile number by the CDSL.
Click on “Submit” as soon as you receive the TPIN which is sent to your email address and mobile number. You’ll be redirected to the “e-DIS Transaction Verification” page as shown in the display below:
Enter your TPIN and click on “Verify”. After the Authorization is done, you’ll get the below confirmation message.
You can close this window and place the Sell orders in CNC without any hassles.
For FYERS Mobile Application, the procedure for Pre-Authorization will be the same and the display will look similar to the image below:
What does it mean for the existing clients?
The Clients who have already submitted the Power of Attorney (POA) will not be impacted by this in any way.
Whereas the clients who have not submitted the POA will be able to take the delivery of shares (which was not possible without POA, previously) but have to go through the Pre-Authorization process as mentioned above for selling their holdings.
Things to note:
- E-DIS is applicable only for selling the holdings and not for Intraday.
- E-DIS is available only for FYERS Demat Holders
- The facility of E-DIS can only be availed on FYERS Web and FYERS New Mobile Application.
- The authorization of E-DIS is not applicable to the clients who have submitted the POA.
With this initiative, our clients will be more empowered and in control of their own financial assets stored in their respective demat accounts. This adds an additional layer of safety when investing. We hope that this adds value to your trading & investing journey at FYERS. We look forward to introducing more features in the near future. If you don't yet have an account with us, you can get started here.
Stay tuned, stay safe & happy investing!
Just curios, Is there a procedure in place to revoke existing PoA and move to E-DIS method ?
Hey @Chirag , Yes, we'll announce this soon.
Any update for existing POA holders Tejas?
I have an account with you but POA is pending. Am I eligible to use this facility? Due to non submission of POA I was not able to transact in cash segment. Is there any procedure or to inform Fyers for activating this facility?
Hey @Parag Desai, Yeah you will be eligible. Please write to our support team at support@fyers.in with the details.
thanks
do we need to generate tpin for selling equity every time or is this a one time process amd we just to enter tpin and sell?
please confirm
You'll need to generate a TPIN of course. It's the authorization code for the EDIS mechanism.
thanks for reply
so we need to generate tpin every time. TPIN will be different for different transaction.
Nope, once you generate a TPIN, you can use it to sell multiple stocks across timeframes. If you have forgotten or want to change the TPIN you can do it on the CDSL portal.
ok thanks for clarification
I edited my previous reply. There was a slight confusion.
ok noted
Can I pledge/unpledge my holding shares without giving you Power of Attorney, & get margin from that ?
Fyers Team...can you provide direct #Authorisation #link or #Tab so that we can authorize in the morning and can sell instantly. Coz sometimes price movement is so fast that it can give us big loss to us during selling. Just like #Zerodha gave it in the holdings page...both in web and mobile versions.
@Tejas Khoday I have 3 concerns.
Awaiting for your reply.
I am also having same questions for this.
1. i.e. can I submit POA now
2. is OTP mandatory while authenticating e-DIs with Tpin
In the Fyers android Mobile app, during selling of shares, it takes much time to load the CDSL verification page after clicking submit button on CDSL authorisation page. Why this time consuming?
Plish sir CDSL problem salved
"When you place a Sell order in CNC"
How exactly to do this? It is not clear from the Fyers Web how to place a sell order. If I try to place it from the chart, then it places intraday order, with no option to select CNC.
poa is more flexible and recently know that fyers is not accepting poa now but still many clients like poa as it is more flexible and hassel free so pls reintroduce poa. i recently open fyers demat to link my existing trading account . one of the problem may be if i want to repurchase selling scrips or cover the selling scrip then may be i can not do with edis also one can not sell demat share instantly. so if u have faith in ur transperency ,reintroduce it
Evert time, I wish to sell my CNC Holding sharing it asking for Tpin and it consumes more time. To get rid of this? I am selling my on holding, why this is required? Please help.