Since the ownership of government securities and gold bonds (SGBs) is recorded on a ledger maintained by RBI, they can only be transferred through a value-free transfer. The rematerialisation charges of ₹150 + 18%GST will be charged.
The process to transfer G-secs or SGB’s from Zerodha demat account to RBI retail direct account is as follows:
1. The following documents must be sent to Zerodha:
- Rematerialisation request form (PDF) for each G-sec or SGB series or ISIN. The rematerialisation form has to be filled with details of the number of units of G-sec or SGB and the relevant series or ISIN¹.
- Value-free transfer letter (PDF) for each G-sec or SGB series and ISIN.
- A screenshot of the client's profile on the Retail Direct Gilt (RDG) account. Clients must log in to rbiretaildirect.in/#/login/ and click on Dashboard to view their profile.
- Self-attested PAN.
Example scenario
Let’s say 3 G-secs are to be transferred from Zerodha to RBI retail direct account. In such case, for each G-sec, a separate rematerialisation request form and a separate value-free transfer letter must be submitted. So in total 3 rematerialisation request forms and 3 value-free transfer forms must be submitted.
Courier the documents to:
Zerodha,
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru – 560078
After the documents are verified, Zerodha will provide a Rematerialisation Request Number (RRN).
2. A request for transfer must then be placed on the Retail Direct Gilt (RDG) account. To place a transfer request, follow these steps:
- Log in to RDG account by visiting rbiretaildirect.in/#/login/.
- Click on Investor Services and then Request.
- Enter the details in the respective fields as follows:
- In the Security field enter the ISIN of the securities being transferred.
- In the Transfer Amount (in Rs. Or Grams) field mention the quantity or units of securities being transferred.
- In the Source Depository mention CDSL.
- In the Depository Participant Name field mention Zerodha Broking Limited.
- In the Depository Participant Accounts No mention the DP ID. To know the DP ID, see What is my DP name, DP ID, BO ID, and demat ID?
- In the Depository Participant Client No field mention the BO ID. To know the DP ID, see What is my DP name, DP ID, BO ID, and demat ID?
- In the Transaction Reference Number field mention any number for reference.
- Upload the Remat Reference Number (RRN) provided by Zerodha in the Document upload field.
4. Click on Submit.
The transfer of G-secs or SGB’s from Zerodha demat account to RBI will take up to 3 weeks. The transfer of G-secs from the RBI direct account to the demat account is not allowed.
Notes
¹ To view the number of units or the ISIN of the G-sec or SGB:
- Visit console.zerodha.com/portfolio/holdings.
- Click on the context menu.
- Click on View breakdown.
