Lark FinservIllustrative simulation

Loan against
securities, start
to finish.

Not a slide deck. A working model of the whole journey: the client borrowing from inside their broker app, the pledge authorised at the depository, then everything after sanction, drawdown, interest, a margin call, and closure.

Shell oneWeb journeyStarts inside Nivesh Securities, a stock broker's web terminal. The client is looking at their own holdings when they find Loan Against Securities, and the broker's own white labelled journey opens over it, powered by Lark.Broker terminal with live pricesThe partner's white label, not Lark's brandStep-outs for depository, DigiLocker, mandateOpen the simulation→Shell twoApp journeyThe Lark app on a phone. Login, holdings entered by the client, the eligible limit, tentative lender offers, KYC, the depository pledge, sanction, then the loan running live with a clock you can push forward.Nine step application ribbonFull servicing with a time scrubberMargin call, release and foreclosureOpen the simulation→
Built against the source

What the depositories publish

Lark's fourteen steps are the same either way. What changes is what happens once the journey hands over, so the simulator has an NSDL and CDSL switch and each one behaves the way that depository publishes.

Refer CDSL LASRefer NSDL LAS
CDSL11 published steps
  1. 01Investor logs into NBFC or bank portal to initiate the LAS applicationour screen: login
  2. 02Investor is directed to CDSL's page to authorise the lender to access holdingsour screen: holdings
  3. 03Investor provides consent by Aadhaar based e-sign for the BO and lender combinationour screen: holdings
  4. 04Holdings are shared with the lender on the PAN and BOID combinationour screen: holdings
  5. 05Lender assesses the eligible loan amount on its own portalour screen: limit, pledge_offer
  6. 06Investor selects the securities and quantity to pledge, on the lender's portalour screen: pledge_select
  7. 07Pledge details are shared by the lender and the investor is redirected to CDSL to initiate the pledge requestour screen: depository_auth, depository_pledge
  8. 08Investor authenticates using the OTP sent to the registered mobile number and email addressour screen: depository_pledge
  9. 09Pledge request is sent to the pledgor's DP for approvalour screen: depository_psn, pledge_done
  10. 10CDSL sends confirmation of the successful pledge to the bank or NBFCour screen: pledge_done
  11. 11On receiving confirmation, the bank or NBFC disburses the loanour screen: sanctioned

Eleven documented steps. Two of them corrected this simulation: authentication is two codes rather than one, and approval comes from the pledgor's own DP before the depository confirms to the lender. One we deliberately depart from: CDSL has the investor select securities on the lender's portal, while the NSDL journey Lark documented has the client select at the depository. This build follows NSDL, so selection happens on the depository page.

NSDL7 published steps
  1. 01Client login on the net or web applicationour screen: login
  2. 02Digital LAS interface at the bank or NBFCour screen: login
  3. 03Redirection to NSDLour screen: depository_auth
  4. 04Selection of security, at NSDLour screen: depository_pledge
  5. 05OTPour screen: depository_pledge
  6. 06Pledgor's DP confirmationour screen: depository_psn, pledge_done
  7. 07Pledgor's DP confirmation or auto confirmation, and the eligible loan amount released for disbursalour screen: pledge_done, sanctioned

Taken from the digital journey NSDL publishes as a diagram, plus its five salient features: end to end digital journey, complete API integration, automated lien marking, intuitive user interface, seamless processing. Two things differ from CDSL and are switched by the depository selector: the client selects the security at NSDL rather than on the lender's portal, and NSDL allows the pledgor's DP confirmation to be automatic.

Lenders
Bajaj Finserv, DSP Finance, Shriram Credit, each as configuration rather than a separate flow.
Collateral
A fictional demat portfolio. Every rupee on screen is computed from it, never typed in.
Depository
The client authorises at the depository, their DP approves, then the depository confirms to the lender. Shares never leave their own account.