What is the mode of operation feature for a joint demat account?

CDSL has introduced a new “mode of operation” feature that allows any one joint holder to independently carry out specific operations in a demat account — without requiring the signatures of all other joint holders, as was previously required.

Off-market transfer: Any joint account holder can transfer securities to other demat accounts without requiring the signatures of other account holders.

Pledge: Any account holder can pledge securities with a bank or any NBFC without requiring the signatures of other account holders.

Freeze/unfreeze: Any account holder can freeze or unfreeze the securities in the demat account without requiring the signatures of other account holders.