Customer Satisfaction at ICICI Direct.com

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ISSN: 2349-7637 (Online) Volume-1, Issue-2, Sept 214 RESEARCH HUB International Multidisciplinary Research Journal Research Paper Available online at: www.rhimrj.

1 ISSN: (Online) Volume-1, Issue-2, Sept 214 RESEARCH HUB International Multidisciplinary Research Journal Research Paper Available online at: Customer Satisfaction at ICICI Direct.com Prof. Jignesh B. Bhatt I/C Principal Takshashila Institute of Management Bhavnagar, Gujarat (India) Abstract: Today it is a practical reality that you can arrange delivery of the securities (shares) sold anytime, anywhere, to anyone by a click of the mouse and it is possible to trade in securities and settlement of the accounts from the convenience of a sitting room or through a laptop. This is made possible because of the internet facility. The depository is responsible to deliver and receive securities traded at the stock exchanges, which are the business partners of the depository. It doesn t deal with financial aspect of the settlement of the trade. Dematerialization of securities (shares) was the commencement of the era of the stocks. The beginning was made in 1996, with legislation of the depository act 1996 and SEBI regulations The securities are now a nattier produced. Keywords: Trading, Depository, Share, Securities, Online, E-trade I. INTRODUCTION (HISTORY OF ONLINE TRADING) The history of the online trading began in 1983, when a doctor in Michigan placed the first online trade using E- Trade technology. What began with a single click over 22 years ago has now taken the world in its storm. The concept was visualized by one bill porter, a Physicist and inventor with more than dozens patent to his credit, Who provide online quotes and trading services to giants like Fidelity, Charles Schwab and Quick & Reilly. This led Bill to wonder why, as an individual investor, he had to pay a broker so much money for stock transaction. And today we can see, like a dream come true. Online trading has become a smart way to invest in stocks. Today there are as many as 5 companies who provide internet base trading facility. The major players are ICICIdirect.Com, Sharekhan.com, Indiabulls, Kotakstreet, 5Paisa.com etc. You don t need to go to a broker s place or even don t need to give cheque for payment. You can have complete information of your De-mat & Bank account with a just a click. It seems a like really a dream. Now it is possible, thanks to technology which has turn dream in to reality today. The dematerialized form of shareholding and the depository mode of trade (scrip less trade) have been in operation in developed financial markets for over 15 years. In India, the first depository commenced operation a decade back and is relatively new. The Indian financial market is in need of both scrip-based and scrip less trade, but the investing community, which is used scrip-based trade, is bound to take some time to accept the latter. The scrip less trading, till now a domain of the western world, institutional investors and GDR holders is now mandatory even for small investors. If they do not, they will be forced to do so at the time of sale. The countless numbers of conservative Indians have to digest it, whether they like it or not. First, the institutional investors succumbed. Then the high net worth individuals, trading in more than a certain numbers of shares, were forced to give in. now, it is the turn of the small investors of select-companies. II. CONCEPT OF ONLINE TRADING In the past one has no other option but to contact their broker to do transaction or even to know price of a particular script. One has never thought in dream that by Sitting at home or office or even from your car, as long as you have internet access one can do transaction in the market. Now there is no more need to go physically to a broker s office. There are three basic things requirement for online trading. 1. Online trading Account 2. Bank Account 3. D-Mat Account. To do online transaction is fairly simple. Once one has opened account from online broker like ICICIdirect.com one can do transaction in the stock market. One can open multiple account with him or her as the first name in the De-mat account. You can open multiple type of account like Individual, Joint, Sole proprietorship etc. In case if joint account one has to provide certain information like Legal name,residence Proof, Citizenship, Address, Date of Birth etc. about joint holder. After opening online De-mat account one can access his/her de-mat account anywhere from the world as long as one can have internet facility. After opening of account, Online broker will provide Username and password using which one has to login to the website for doing transaction. Unless and until one does not have username and password one cannot login to the website. If one buys share from the market then there is no need to give cheque, Amount is automatically debited from the bank account of that person. Likewise if any person sells shares, then amount is automatically credited to bank account of that person. Page 1 of 8 214, RHIMRJ, All Rights Reserved ISSN: (Online)

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