How do I use the CDSL TPIN to sell my Mutual funds holdings from Coin?
CDSL has made a change in their e-DIS process which will be applicable from June 1st, 2020 for all our clients who have opened an account without giving us a physical POA. You have to now use the CDSL TPIN instead of your Kite PIN, and authorize the Mutual Funds to be debited from your Demat account before placing a redemption order on Coin.
With the CDSL TPIN, you can pre-authorize the sale of your mutual fund's holdings.
Whenever you will place a redemption order, you will see the screen below going forward:
You will have to select "Click here to authorize":
Click on “manage authorizations” on this screen to select the mutual funds that you wish to authorize for redemption. It is best to have all your mutual fund holdings authorized to sell, so you don’t have to do this process multiple times. This authorization is valid for one day, after which you will have to go through this authorization process once again.
Clicking on “Continue to CDSL” opens the below CDSL page, where you will have to enter your CDSL TPIN.
Upon successful verification of the TPIN, you will get a page with a list of all the mutual funds that you have selected to be authorized. You will have to enter the OTP sent by CDSL to your registered mobile number and email id to complete the authorization. Here, you can refer to the settlement date for which you are authorizing the units as well. On the settlement date, the mutual fund scheme units will be debited from your Demat account.
Upon successful authorization after entering the OTP, you will get the below confirmation message.
Now, you can place the redemption order on Coin. You need not go through this authorization process once again for the day.
You can also authorize the sale of your mutual funds by clicking on “CDSL Authorization” on the Portfolio page on Coin at any point of time during the day as shown in the screenshot below.