Fintotal News Analysis | Demat Account to Hold FDs, Insurance Policies, Postal Savings
Demat Account to Hold FDs, Insurance Policies, Postal Savings
Ruby Jacob, 08 Oct 2012

Soon you will be able to view details of your transactions and holdings in bank FDs, postal savings schemes, insurance policies and more in a single consolidated statement. Securities market regulator SEBI has approved proposal to permit Depositories to tie up with respective financial sector regulators to make this possible.

Once this comes into effect you can hold most of your financial securities in the dematerialized form. Presently shares, bonds and mutual funds traded in the capital market can be held in demat form. Demat securities are held in the electronic form as against keeping physical certificates.

Keeping securities in the demat form has many benefits. It offers more convenience and security. Transactions can happen instantaneously and costs are reduced, forgery is eliminated and there is no worry of loss or damage to securities.

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