Managing large amount of money, by the large companies and government is known as finance. Various kinds of account are present in the financial market and Demat account is the major one.
A unique kind of deposit where in one can store and maintain investors details in an electronic format are known as the Demat Account.
India is having depositories like the NSDL (National Securities Depository Limited) and CSDL (Central Depository Services Limited) to have proper transfer of the securities.
Opening the Demat account is the major component of the online trading. After recession in 2009, Indian economy is having an upward movement to a great extent. Income of the people, standard of living of the people has increased considerably. Due to high salaries, people like to venture into the stock and share markets. Demat account is a unique form where in, investment can be handled by small investors in a logical manner.
In order to open a Demat Account, you must follow certain steps given below as follows:
A good Demat account can be opened with various banks in India and features will be:
Various documents are required to open a Demat account and they are:
Proof Of Identity: Various documents are required for opening Demat Account. Documents like the PAN card, Passport, Driver’s License, Income Tax Returns, Mobile and telephone bills and the ID card where one works, whether government and private establishments are working must be produced.
Address Proof: You would require various kinds of address like the Voter ID, Ration Card, Bank Passbooks/Statements, Xerox copies of electricity bills; House rental agreements must be deposited.
Some of the major components of Demat Accounts are as follows:
Some of the benefits of Demat Accounts in India are given below as follows:
Some of the major disadvantages of the Demat Accounts in India are as follows:
So, one can say that Demat Account are fast picking up in India and people are slowly getting interested in this form of account.
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