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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 .
SEBI (D&P) Regulations, 1996 prescribe a minimum net worth of Rs. 50 lakh for stockbrokers, R&T agents and non-banking finance companies (NBFC), for granting them a certificate of registration to act as DPs. If a stockbroker seeks to act as a DP in more than one depository, he should comply with the specified net worth criterion separately for ...
Typically it consists of the annual management charge (AMC), [1] the fee that the fund company charges annually to manage the fund (typically commission paid to fund managers), plus 'other' charges incurred with running the fund. These other charges can consist of share registration fees, fees payable to auditors, legal fees, and custodian fees ...
NSDL has more than 2.80 Crore demat accounts as of 30 June 2022. The market share of NSDL in value of demat assets is more than 89%. NSDL demat accountholders are present in more than 99% of pin codes in India and 189 countries across the globe.
ICICI Bank Limited is an Indian multinational bank and financial services company headquartered in Mumbai with a registered office in Vadodara.It offers a wide range of banking and financial services for corporate and retail customers through various delivery channels and specialized subsidiaries in the areas of investment banking, life, non-life insurance, venture capital and asset management.
A banks main source of income is interest charges on lending but bank fees have been a minor but important part of a banks income since the early days of banking. Bank fees were initially designed to recover the cost of processing transactions such as cheques. The overdraft fee was also designed as a penalty for unauthorised lending from the ...
ICICI Prudential Mutual Fund is an Indian asset management company founded in 1993 as a joint venture between ICICI Bank and Prudential plc. [4] It is the second-largest asset management company in India after the SBI Mutual Fund .
The most common formula is based on the average daily balance, in which daily outstanding balances are added together and then divided by the number of days in the month. In financial accounting, interest is defined as any charge or cost of borrowing money. Interest is a synonym for finance charge.