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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.
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 .
Central Depository Services (India) Ltd. (CDSL) is an Indian central securities depository, founded in 1999. [3] 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]
On 4 April 2022, HDFC Ltd announced that it would merge with HDFC Bank, marking India's largest-ever M&A deal. [23] [24] As part of the merger, HDFC Ltd would transfer its home loan portfolio to HDFC Bank, while the bank offered depositors of HDFC Ltd the choice of either withdrawing their money or renewing their deposits with the bank at the interest rate that the bank was then offering.
It was established in August 1996 as the first electronic securities depository in India with national coverage. [2] It was established based on a suggestion by a national institution responsible for the economic development of India. At the end of 2023, its demat accounts held assets worth ₹398 Lakh Crore ($4.7 trillion). [3] [4] [5] [6]
News Tamil 24x7 is a Tamil-language news channel based in Chennai, Tamil Nadu, India. Launched on 23 January 2022, by SPLUS Media Private Limited, the channel focuses on providing news, discussions, and reports in the Tamil language. The channel uses the tagline "Meiporul Kanbathu Arivu" (Knowledge is seeing reality).
HDFC held 26.14% of shares in HDFC Bank. HDFC Bank sources home loans for HDFC for a fee. [22] The key business areas of HDFC Bank were wholesale and retail banking and treasury operations. As of April 2023, its market capitalisation was ₹ 941,386 crore (US$110 billion), making it India's third largest publicly traded company. [23]
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