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A demat account is an Indian term for a dematerialized account that holds financial securities (equity or debt) digitally for traded shares in the share market. In India, demat accounts are maintained by two depository organizations: the National Securities Depository Limited and the Central Depository Services Limited .
A demat account is opened on the same lines as that of a Bank Account. Prescribed Account opening forms are available with the DP, needs to be filled in. Standard Agreements are to be signed by the Client and the DP, which details the rights and obligations of both parties.
CDSL is the largest depository in India in terms of number of demat accounts opened. In February, CDSL became the first depository in India to open 60 million active demat accounts. [4] As of March 2022, the depository holds assets worth ₹ 37.2 trillion, [5] with over 580 depository participants associated with CDSL. [6]
The Securities and Exchange Board of India (SEBI) was first established in 1988 as a non-statutory body for regulating the securities market.Before it came into existence, the Controller of Capital Issues was the market's regulatory authority, and derived power from the Capital Issues (Control) Act, 1947. [6]
Although India had a vibrant capital market which was more than a century old, the paper-based settlement of trades caused substantial problems such as bad delivery and delayed transfer of title. The promulgation of the Depositories ordinance in 1995 paved the way for the establishment of National Securities Depository Limited (NSDL), the first ...
Bajaj Finance Limited (BFL) is a deposit-taking Indian non-banking financial company headquartered in Pune. [6] [7] It has a customer base of 88.11 million [8] and holds assets under management worth ₹ 354,192 crore (US$41 billion), as of June 2024.
Axis Direct provides a 3-in-1 Online Investment Account [2] which is a combination of Axis Bank Savings along with an Axis Direct trading and Demat account services: Equities – Invest online in stocks of listed companies; Mutual Funds – Invest in mutual funds including equity, hybrid, tax saving or debt schemes from asset management companies
Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv and Allianz SE. [29] It offers insurance products for financial planning and security. [ 30 ] The company received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 3 August 2001 to conduct life insurance business in India. [ 31 ]