OPEN DEMAT ACCOUNT FOR MINOR
Sensex, Nifty end with minor losses amid selling pressure in banks, auto stocks
The 30-stock S&P BSE Sensex ended the day at 79,441.45, dropping 35 points or 0.04% while the broader Nifty closed at 24,123.85, settling 18.10 points or 0.07% lower. Of the 16 sectoral indices on the NSE, 11 closed in the red while the remaining 5 ended in the green.
Punjab & Sind Bank plans to raise Rs 2,000 cr via QIP likely in H2 FY25
State-owned Punjab & Sind Bank plans to raise Rs 2,000 crore in the second half of this fiscal via Qualified Institutional Placement (QIP) to fund business growth. "The board has already given approval, and merchant bankers should be on-boarded by August," Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI.
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.
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.
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 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.
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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.
Anticipating INDIA bloc victory, women rush to open India Post accounts to get Rs 8,500 per month
Bengaluru's General Post Office is crowded with women, mainly from minority communities, rushing to open India Post Payment Bank accounts. They believe they'll receive Rs 8,500 monthly if the INDIA bloc wins the election. The Chief Post Master clarified it's a rumor, but the rush persists, with hundreds of accounts opened daily.
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.
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
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:
"BJP will not be able to open their account in Kerala..." Sachin Pilot slams BJP, expresses confidence in UDF win
Sachin Pilot criticizes BJP's divisive tactics, unfulfilled promises in Kerala. Backs UDF, INDIA bloc for full victory. Focuses on real issues, condemns emotional distractions. Discusses controversial PM Modi remarks. Foresees INDIA alliance triumph on June 4.
Demat type e-Insurance Account must to buy new insurance policies: 6 things to know
Starting from April 1, 2024, it is mandatory to hold insurance policies in electronic format. It is very similar to how investors hold shares in a demat account.
e-Insurance in demat like format mandatory for all new policies from April 1, 2024; what is going to change?
e-Insurance policies new rule: The Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory to hold new insurance policies in electronic format from April 1, 2024. e-insurance refers to the process of acquiring and managing insurance policies electronically. Policyholders can purchase insurance and store digital policy documents in a dedicated e-Insurance Account (eIA). This eliminates the need for physical documents and simplifies managing various insurance policies, including life, health, and general insurance coverage. What policyholders must know about this new IRDAI rule
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
If you encounter a technical glitch on your stock broking platform, here’s what you should do
A staggering 42 lakh new accounts were opened in December alone—50% higher than the previous month—taking the total number of demat accounts to 13.93 crore. The trading volume on stock exchanges has increased over tenfold since 2019-20. However, brokers are finding it tough to handle this frenetic activity. In recent months, users of several broking platforms have been crying foul after facing recurring outages and disruption in services.
Demat accounts for women investors jump 75% YoY in FY24 for Yes Securities
Commenting on the current trends, the financial services company said that investor accounts of women are witnessing a steady rise indicating growing confidence, rise in financial awareness and proactiveness among women in managing their finances.
June 30 is the deadline to appoint nominees for your demat and MF accounts; why you need to get your nominations in order
Experts warn that ignoring nominations in investments can make life cumbersome for family members after the death of the account holder. While grieving, successors will be forced to seek court orders and face other hardships to get access to assets built by the deceased for their benefit.
Demat account nomination: Because it is all about valuing what you have created and earned
The recent consultation paper by Securities & Exchange Board of India (SEBI) points out that 70% of the demat accounts with a single holder have opted out of appointing a nominee.
Sovereign Gold Bond Scheme 2023-24 Series IV issuance: How to check SGB allotment status if you apply online/offline
Sovereign Gold Bond 2023-24 Series IV: SGB 2023-24 Series IV opened for subscription on February 12, 2024 and closed on February 16, 2024. However unlike initial public offering (IPO) where investors may or may not get allotment, in SGBs if a investor applies and the documents checks out and application money is remitted on time, allotment is guaranteed.
Process to open a minor’s demat account
There are no minimum age criteria for opening a demat account in the name of the minor. However, it needs to be opened with a parent or guardian.
Over 100 million single demat accounts lack nominations
According to market regulator Sebi, a primary factor contributing to the rise in unclaimed assets is incomplete nominations or unavailability of nominations. "This feeds into and impacts the consequent transmission process of the deceased/incapacitated holder of assets, making transmission an ordeal for (his/her) family."
Groww app hit by technical glitch, demat account holders demand compensation
Groww, the No.1 stock broker in India, faced a technical glitch on its trading app but resolved it later. Users were unable to log in and demanded compensation. Zerodha, the previous market leader, has also faced technical glitches in the past. Groww has 76 million active clients, surpassing Zerodha's client base. The total number of demat accounts increased to 139 million last month.
Settlement holiday today. Traders will see updated balance on this day
On Saturday, several investors and traders took to X voicing concerns over their inability to see updated balances in their broking accounts. Responding to these queries, brokerages issued statements on the social media platform.
Your demat account will become inactive when this happens
An trading and demat account is most required for purchasing and selling and holding shares. However the trading and demat account could become dormant if there are sustained periods of inactivity. And no trade can be made through an dormant trading account until the reactivation process is completed. Read here to know more.
Equity Rush: Record 41.73 lakh demat accounts opened in Dec
The sharp rally across sectors and a historic 11 public offerings in December acted as catalysts, drawing retail investors into the stock market in significant numbers. The total number of investor accounts at the end of the month totalled 139.3 million.
Demat account openings at record high, total accounts near 14 crore mark
The number of new Demat account openings is directly proportional to the surge in stock prices. Typically, a bull market attracts more number of new investors and whenever the market hits a rough patch the number of active traders and investors also tends to decrease.
How to open a demat account for minors, documents required and other things to keep in mind
A parent can choose to open a demat account in the name of their minor son or daughter in order to gift them various securities like shares, etc. However it must be noted that although parents can give their own bank account at the time of account opening, but at the redemption the sale proceeds would only be credited to a minor's bank account.
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