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Now, transaction alerts on your cell

Come September, and stock market investors will be in a position to cross-check their trading details with SMS alerts, reports BS Srinivasalu Reddy.

business Updated: Aug 27, 2007 00:00 IST
BS Srinivasalu Reddy

Come September, and stock market investors will be in a position to cross-check their trading details with short messaging service (SMS) alerts on their mobile from the National Securities Depository Ltd (NSDL).

“Trials are on. We hope to make the system available to demat account holders by September 1,” NSDL Chairman and Managing Director CB Bhave said on the sidelines of Dun & Bradstreet’s financial markets convention. Demat account holders will get alerts on transactions of the day, the next morning. However, this facility will be available to only those investors with less than five transactions a day.

Complaints received from some investors that their stocks were being “sold” by the franchisee of a leading broking house, without their knowledge, was the trigger for initiating the SMS alert system.