ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Demat Account is short for dematerialisation account and makes the process of holding investments like shares, bonds, government securities, Mutual Funds, Insurance and ETFs easier, doing away the hassles of physical handling and maintenance of paper shares and related documents.

Detailed explanation-2: -What is a demat account? A demat account helps investors hold shares and securities in an electronic format. This kind of account is also called a dematerialised account. It also helps to keep proper track of all the investments an individual makes in shares, exchange-traded funds, bonds, and mutual funds in one place.

Detailed explanation-3: -This facility allows select, existing HDFC Bank customers to open a Demat and Trading account online at any time so that they can start investing with just a few clicks! Benefits of DigiDemat Account. Paperless-No documentation or signature needed. Fast-Complete your account opening process within 5 minutes.

Detailed explanation-4: -If your depository is CDSL, all 16 digits in your DP account are the number. This is your DP ID. On the other hand, if your depository is NSDL, the first two digits are alpha (code) while the remaining 14 digits are the DP number. For example, consider the CDSL demat account number 1234567891234567.

Detailed explanation-5: -Regular demat account. Repatriable demat account. Non-repatriable demat account.