This circular is addressed to Issuers and R&T Agents. It refers to NSDL Circular No. NSDL/CIR/II/15/2026 dated March 26, 2026, pertaining to Operational Guidelines on SEBI Circular on Ease of Doing Investment and Ease of Doing Business – doing away with the requirement of issuance of Letter of Confirmation (LOC) and direct credit of securities in the dematerialization account of the client.

NSDL is introducing a new file upload feature called Unified Distilled File Format (UDiFF) in its DPM-SHR system for setting up bulk dematerialization requests. This facility will be available alongside the existing facility to capture dematerialization requests. The process used by Issuers and R&T Agents for verification and confirmation of dematerialization requests will remain unchanged. The functionality is scheduled for release on EOD of May 15, 2026. Issuers and R&T Agents are required to incorporate necessary changes in their back office as per the file format before May 15, 2026.

The following points are specified for preparation of the upload file:

1. All the ISO Tags given in the UDiFF upload format (UDiFF Catalogue_RTA_V1.0.0.0.xlsx) should be present in the first row of the bulk upload file.
2. Data will be present from second row onwards.
3. Fields should be comma separated.
4. Data should be present in mandatory fields.
5. In case data is entered in additional field, same will be ignored at the time of file processing.
6. File will be processed at a record level i.e., if any record has problem, then only that record will be rejected and other records will be processed.