What is a Depository?
- A Depository is an organization, which holds investors' securities in electronic form. The depository also provides services related to various transactions in such securities.
- A depository interfaces with its investors through Depository Participants. Depository Participants maintain investors' accounts (Demat accounts), which are similar to Savings Bank/Current accounts with a Bank. Purchase and sale of securities can be done through Demat account.
Why open a Demat account?
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary
- It helps you to avoid the trouble of storing share certificates, remember record dates, book closure period, validity date of transfer deeds, maintain record of securities held etc. It reduces paperwork and quickens the transactions and payment settlements.
- As a Depository Participant of Central Depository Services (India) Ltd. (CDSL), Central Bank of India facilitates to open Demat Account.
Prevent Unauthorized Transactions in your demat account Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day......................issued in the interest of investors
Email Id for Demat operations and queries:
to download Demat account opening form for Individual