DPs to provide kiosk facility

MUMBAI, OCT 23: Depository participants DPs are now proposing to set up kiosks with internet facility to allow their clients investors...

MUMBAI, OCT 23: Depository participants DPs are now proposing to set up kiosks with internet facility to allow their clients investors to view their portfolio or even know the updated value of their portfolios held with the DP. National Securities Depository Ltd NSDL chairman C Bhave said, 8220;even the debit slip may soon go away with electronically generated documents getting legal validity once the cyber laws are in place.8221;

8220;Very soon investors will be able to feed their settlement instruction schedule directly onto the DP8217;s website,8221; he told investors at the launch of India8217;s first teledepository services8217; here.

Action Financial Services India Ltd AFSIL, a DP with over 5,000 accounts and stocks worth over Rs 5.5 billion in custody today launched a 24-hour teledepository service8217; providing its clients with account details by voice or fax.

Chairman amp; Managing Director of AFSIL, Milan Parekh, said the company recently launched its website and would soon provide its services on the netalso.

Bhave felt that with the private sector aggressively marketing internet services and with increased accessibility through kiosks, it would grow very fast.

Dishnet undercuts other net providers

NEW DELHI: Dishnet Ltd on Saturday launched its internet service in the capital with lowest ever access tariff at Rs 2.50 per hour. As an introductory offer, the company plans to provide free internet access to the first 2,000 subscribers for the next one month. With this, Dishnet has undercut, other internet service providers ISPs in the capital. With this, Dishnet becomes the fifth ISP in Delhi, after services offered by Videsh Sanchar Nigam, Mahanagar Telephone Nigam Ltd, Satyam and Bharti.

Launched under the brand name quot;ETH Internetquot;, Dishnet plans to introduce its internet service in 52 cities over the next three years and grow operations to over 200 locations over the next five years. The company has already started operations in Chennai, Pune, Bangalore and Coimbatore. The service intendsto hit Mumbai, Calcutta, Hyderabad and Ahmedabad in the coming months.

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According to Dishnet8217;s chairman Vijay Bhatkar the company has an investment outlay of Rs 400 crore for internet project. Of these, Rs 40 crore has already been invested. ETH presently has around 15,000 subscribers and targets a figure of 100,000 in a year8217;s time. Bhatkar said the company expects a 20 per cent market share by 2002.

Bhatkar said the company would be offering several value-added services including web-based engineering courses, real-time games such as chess and car-racing and ERP services through the internet.

The company has also announced special packages for students and high-end users. Under the student scheme, ETH offers one hour access each day for five years at a one-time payment of Rs 4,000. The high-end corporate users can have unlimited access to the internet for a year at a price of Rs 21,999. There is also a 25-hour user package for Rs 495.