MUMBAI, DEC 9: The National Securities Depository Ltd (NSDL) has decided to start off another training campaign for its participants after 30 per cent of the 310 staff personnel from various DPs performed below satisfactory levels in the recent round of tests which the depository conducted under its branch empowerment programme.NSDL has sought to send a signal out to the DPs that they had better become more aware of the fact that it is better investor servicing which is going to make them move ahead of their competitors.NSDL managing director, CB Bhave has made it clear that by the middle of next year it would become mandatory for personnel deployed at a DP to have cleared a certification test, which the NSDL plans to launch early next year.Speaking to The Financial Express, NSDL vice-president, T Koshy said that the branch empowerment exercise had been aimed at creating a need in the minds of DPs that it is the investor who matters at the end of the day and he needs to be servicedbetter."About 40 out of the 60-odd retail DPs took part in our programme which was conducted in various cities. About 310 personnel from 187 branch offices across 34 cities of these 40 DPs attended the programme. We have seen a success rate of 70 per cent", said Koshy.Obviously not satisfied with the performance, NSDL has lined up a fresh programme. "We decided to conduct tests concentrating on the preparedness of branch officials at a DP in handling an investor. We conveyed the results to the top management of the DP and we have seen that these entities have started intensive training of their staff. On our part, we have decided to conduct a programme on procedural issues. We had presumed that the staff at DPs would be familiar with these and hence we could go a step forward and tell them about how to play the game better rather than explaining the rules to them. We, however, realise that there are some personnel which need to be apprised of the rules itself", said Koshy."We are very clear about onething. We want high standards of service from the DPs. It is a new product and investors are accepting it in a big way. The last thing we want is an investor to end up getting disheartened thanks to poor service accorded to him", said Koshy.With 12 stocks going into the mandatory demat trading mode from January 4 and another 48 securities joining this list from April 5, the focus is now clearly on DPs. It is they, who at the end of the day are going to make the difference in changing the equity culture of the country, which the depository has sought to do through modern infrastructure.
