| Securities Dealing and Broking | Stock, currency and commodity broking, margin trading facilities. | Membership in major exchanges; established client relationships. | Retail, high net worth individuals, institutions (B2C and B2B). | Currency and commodity broking. | 9 | 78 | Brokerage fees, commissions from trades. | Transaction-based brokerage fees. | Increasing market participation and trading volumes. | |
| Merchant Banking Fee | Capital market advisory, project financing, issue management, corporate advisory. | Regulatory approvals as Category I Merchant Banker. | Corporate clients (B2B). | Advisory and issue management services. | 0 | 0 | Fee-based services from corporate clients. | Project/transaction based fees. | Capital market activity and corporate financing needs. | |
| Consultancy Fee | Project counseling, debt restructuring, and corporate consultancy. | Experienced management team. | Corporate clients (B2B). | | 0 | 0 | Consultancy fees. | Fee-based services. | Growing demand for financial advisory services. | |
| Registrar & Share Transfer agents | Registrar and share transfer agent services to listed companies. | Category I RTA with regulatory approvals. | Listed companies (B2B). | Registrar services. | 1 | 5 | Service fees from client companies. | Contract and transaction-based fees. | Increase in listed company compliance needs. | |
| Demat / Depository | Depository participant services for demat accounts and securities handling. | Depository participant of CDSL and NSDL. | Retail and institutional investors (B2C, B2B). | Demat account servicing. | 0 | 2 | Fees and charges on demat transactions. | Transaction fees and account maintenance charges. | Rising demat account penetration. | |
