DEMAT ACCOUNT CHARGES IN INDIA
Sebi tweaks rules for Basic Service Demat Account. Check eligibility, charges
Sebi has introduced new rules for Basic Service Demat Accounts (BSDA). To be eligible, individuals must have only one demat account where they are the primary holder and only one BSDA across all depositories.
"Will look forward to results of inquiry": US on India's probe into alleged plot to kill Pannun
The US has expressed its anticipation for the outcome of India's investigation into the alleged plot to kill India-designated terrorist Gurpatwant Singh Pannun. US State Department spokesperson Matthew Miller stated this on Wednesday, during a press briefing. The US emphasized that it has communicated its expectations to the Indian government for a thorough investigation.
Punjab & Sind Bank signs pact with Indian Army for salary account
"PSB Gaurav Bachat SB Salary account is exclusively designed to cater to the distinct banking requirement of serving and retired personnels. The product is also strategically aimed to tap Agniveers enrolled in the Agnipath scheme, ensuring a comprehensive financial solution that aligns with distinctive needs of the segment," Punjab & Sind bank MD and CEO Swarup Kumar Saha told PTI.
Brookfield targets USD 10 billion investments in renewable sector
Canada’s Brookfield Asset Management plans to triple its investments in India’s renewable energy sector to over $10 billion within the next three to four years. The firm is also exploring opportunities in electric vehicles and green hydrogen. With a current portfolio of over 25 GW, Brookfield is the second-largest investor in India’s green energy assets. Through its new Catalytic Transition Fund, Brookfield aims to further its commitment to clean energy and transition projects in emerging economies, including India.
Banks in a GST fix over RBI's directive to levy penal charges
The Reserve Bank of India's directive to levy penalties only in the form of 'penal charges' is posing a tax dilemma for banks. Banks fear that the indirect tax on such levies would attract the goods and services tax (GST). The new rule, which came into force from April 1, 2024, was brought in by the central bank to ensure "reasonableness and transparency" in disclosure of penal interest. However, banks have asked the tax authorities to spell out their stand on the issue.
Your mutual fund redemptions, SWP, switch, STP will stop if you don’t do this by July 1
Mutual fund unit holders must submit nomination information in a prescribed manner and opt out of nomination if needed using a regulated declaration form.
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Demat account for minors: How to open with Zerodha, other brokers? Check documents required, other details
Teaching minors about stock markets, demat accounts, and investment strategies is crucial for financial discipline and smart money management.
Demat, MF A/cs won't be frozen for not filing nomination
Sebi announced it won't freeze demat accounts and mutual fund folios for existing investors without nominations. New investors must provide mandatory nominations, ensuring smoother processes and compliance in the market.
Demat POA misuse prevention: Stockbrokers implement a new authorisation method for demat debit and pledge, should you opt for it?
Demat account: Zerodha, FYERS and other stock brokers have enabled DDPI mechanism for their customers. This new mechanism replaces Power of Attorney (PoA) mechanism, however opting for it is optional for you. Read here to know whether you should stick with PoA, e-DIS (OTP and TPIN) or use the new DDPI method to authorise demat account transactions.
RFC account for NRIs: What is it, eligibility, how to open and more
For non-resident Indians (NRIs) planning to return to India, managing foreign earnings and assets efficiently is crucial. One effective way to do this is by opening a Resident Foreign Currency (RFC) account.
New feature by CDSL to prevent demat related fraud: Know how this will make your accounts with Zerodha, Groww, FYERS and others safer
Demat account: If you have a CDSL demat account (used by stock brokers like Zerodha, Groww, Mirae, Upstox, etc) then you are now set to be protected against fraud after CDSL implements a new two factor authentication feature on the EASI and EASIEST portal. Read here to know more about this.
Investors to get direct payout of securities now
Sebi mandates direct transfer of securities to demat accounts by clearing corporations to protect clients' assets. A Balakrishnan from Geojit Financial Services praises the move for enhancing security, ease of margin trading, auto pledge for funded stocks, effective from October 14, improving the margin trading facility.
Sebi mandates direct transfer of securities by clearing corporations to Demat accounts
The proposed change seeks to streamline operations and mitigate risk by directly crediting securities payouts to clients' Demat accounts, bypassing the broker's pool account.
Sebi mulls raising limit for basic service demat account to Rs 10 lakh
Capital markets regulator Sebi on Wednesday proposed to enhance the threshold for the basic service demat account (BSDA) to Rs 10 lakh from the current Rs 2 lakh in a bid to boost the participation of retail investors in the securities market.
What’s fueling the shift in Indian investor behaviour?
India added $1 trillion to the stock market in less than six months, reaching a $5 trillion market cap. Retail investors, with a surge in Demat accounts, play a key role in enhancing market stability and resilience.
SBI asks staff to seek nod for opening demat accounts with other brokerages
SBI has more than 230,000 employees spread across 22,500 branches in the country. The SBI group is also the biggest asset manager in India's mutual fund industry, with assets under management (AUM) exceeding the pooled funds run by either the ICICI Group or the HDFC Group.
Rs 91 lakh penalty on YES Bank for wrongly levying non-maintenance of minimum balance charges: Is your bank charging the same?
Minimum balance negative in savings bank account: RBI has imposed a penalty of Rs 91 lakh on YES Bank for not complying with the master directions on customer service in banks. One of the reason was levying charges on savings bank account having insufficient or zero balance. Has your bank done the same too?
$5 trillion not enough! PM Modi says both stock market and BJP will hit record high on June 4
Despite the pre-election rally that has propelled the stock market to a historic market capitalization of $5 trillion, Prime Minister Narendra Modi has expressed confidence that both the BJP and the stock market will achieve fresh record highs on June 4, coinciding with the announcement of Lok Sabha election results.
CDSL opens record 1.09 crore Demat accounts in Q4
On Friday, CDSL announced its March quarter earnings where it reported a 52% increase in annual profit after tax (PAT), and a 105% increase in quarterly PAT. The total standalone income reported by the company for FY24 stood at 743 crore, which was a 37% YoY jump. On the consolidated basis, the total revenue stood at Rs 907 crore which was 46% higher than what it reported in the yea
Nomination now optional for joint mutual fund portfolios; what MF investors must know
The deadline for all current individual unit holders who own mutual fund units, either alone or jointly, nominate or opt out of nomination is June 30, 2024; otherwise, the folios will be blocked for debits.
ICAI charges 3 EY India affiliates with professional misconduct
The Institute of Chartered Accountants of India (ICAI) has found three EY India affiliate entities guilty of professional misconduct and reprimanded two partners for breaches of the Chartered Accountants Act. The entities were charged for their dealings with global EY network firms not regulated in India, including paying referral fees and using their names for publicity, which is against the guidelines of the Act. The order, issued on Thursday, is the first such action against a Big Four accounting firm in India.
Changes in saving account charges, credit card rules, special FD deadlines: 5 money changes in May 2024
Big banks like Yes Bank, ICICI Bank have revised their savings account charges and some credit card rules with effect from May 1, 2024. Let us take a look at all the money changes that will come into effect in May 2024.
Demat account: From opening to transactions, here are demat account charges you must know
Opening a Demat Account online is a convenient way to invest in the stock market. But before you dive in, it's important to understand the associated charges. Here's a breakdown of the key fees to consider:
Latest savings account charges: ICICI Bank, Axis Bank, Yes Bank revise savings account service fees
Latest savings account charges: Big banks like Yes Bank, ICICI Bank and Axis Bank have revised their savings account charges. Some service charges are effective from April 1 and some from May 1, 2024. Here is a look all the different savings account services charged that have been revised by these three banks.
ICICI Bank revises charges of these 17 savings account services effective from May 1; check details
ICICI Bank savings account charges: The fees associated with several savings account services, including cheque books, IMPS, ECS / NACH Debit Returns, stop payment fees, and more, have been revised by ICICI Bank. These changes will come into effect from May 1, 2024.
Yes Bank revises savings account charges with effect from May 1, 2024
Yes Bank savings account charges: Yes Bank offers an interest rate between 3-7%% depending on the savings account balances. The rates are the same for regular, senior citizens, rural, semi urban, urban. The rates are effective from January 1, 2024.
Sensex hits fresh lifetime high, closes in on 75,000 mark
The ₹300 lakh crore market cap milestone was achieved on July 5, 2023, when the Sensex was at 65,446. Since then, the index has rallied over 14%, but the broader market cap has surged 34%.
Stock Market Trading for NRIs: A comprehensive guide to 3-in-1 accounts
NRI 3-in-1 Account simplifies Indian stock market investments for NRIs through integrated banking, demat, and trading accounts. It provides convenience, diverse investment options, and seamless fund movement, enhancing trading efficiency and flexibility.
Two insurance rules from April 1, 2024: Demat type e-Insurance Account must to buy new policies, latest surrender charges
Two major insurance rules that are effective from April 1, 2024, are — compulsory e-Insurance policies for new policyholders and the latest the surrender charges of the life insurance plans such as endowment policies. To make it easier for insurance policyholders, we have summarised the main changes here. Read on
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