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Question: What is Demat Account? what is the use of it?

Answer: Demat means Dematerialisation of share, in simple it is an account with which a person can trade in security market without which a person cannot buy or sell any share in security market.



Category Finance Interview Questions & Answers - Exam Mode / Learning Mode
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Question: What is Demat Account? what is the use of it?
Answer:

Demat means Dematerialisation of share, in simple it is an account with which a person can trade in security market without which a person cannot buy or sell any share in security market. Source: CoolInterview.com


Shares and securities are held electronically in a dematerialized (or "Demat") (/dim?;) account, instead of the investor taking physical possession of certificates. A Dematerialized account is opened by the investor while registering with an investment broker (or sub-broker). The Dematerialized account number is quoted for all transactions to enable electronic settlements of trades to take place. Every shareholder will have a Dematerialized account for the purpose of transacting shares.

Access to the Dematerialized account requires an internet password and a transaction password. Transfers or purchases of securities can then be initiated. Purchases and sales of securities on the Dematerialized account are automatically made once transactions are confirmed and completed. Source: CoolInterview.com

Answered by: moneydila | Date: 5/10/2016 | Contact moneydila Contact moneydila


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