A short review on best demat account in India
You can now open demat account easily with any broker. The motive to open best demat account in India needs little efforts. Let us start with the demat account meaning. The demat account is used to allow an investor to hold various financial units in electronic form rather than holding it physically.
Apart from best demat account in India, any activation form for opening a De-Materialized account is simple. You have to complete the form and attach photocopy of the PAN card or residential proofs. Also, submit two photographs and a canceled cheque from bank. In this way you can link your demat account with bank. As an identity proof you can present any of passport, voting card, driving license etc. As an address proof you can submit any one of ration card, latest bank statements, latest telephone bills etc.
With the proper guidance from the brokerage firm, the new procedure is much simpler than what was followed earlier. There are many benefits with leading demat account. NSDL and CDSL offer depository services. Your demat account must be registered with any of the two depositories namely NSDL or CDSL. So if you want soothing trade experience you must focus on selecting the best demat account in India. The low brokerage demat account can be a good choice for the beginners in the stock market. Some of the common features of the best demat account in India include no fear of theft of physical certificates as your stock are stored in digital format and properly maintained in book entry form.
No possibility of bad delivery, missing in transit, forgery and manipulation. Quick settlement time makes it possible to have payment receipts for seller of shares quickly and supports faster credit of shares on the buyer’s side. One just need to update address, email id, bank details with only DP where demat account is held. But if we take the case of physical shares, you need to update any information with each company individually. The paperless approach eventually supports digital India too.
Additionally, if you want to convert physical securities in to demat, then only eligible securities with valid ISIN number can be converted into demat configuration. Also, the related company must have aunthentic agreement with Depository and shares must be there for conversion into demat design format. The name mentioned in physical securities and demat account must match. Also, the sequence of names should be same in both physical shares certificates and in the demat account. Moreover, the signatures available with DP must be similar to that on Dematerialisation Request Form (DRF). After certain formalities, DRF should be submitted to Depository Participant. That would be further send with original certificates to the Registrar and Transfer Agent of the company. After all the verifications, RTA informs depository for credit of shares to your demat account.