Question

Needs and importance of demat account

Answer 1

Heyaa mate...❤..here is ur answer
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A Demat account is used to hold stock in electronic format. ... Demat Account or dematerialized account provides the facility of holding shares and securities in electronic format. During online trading, shares are bought and held in a demat account, thus facilitating easy trade for the users...
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Another importance of demat account is the fact that you cannot trade in the stock market without it. Everything is electronic in this modern era. Thus, if you wish to either buy or sell shares of a company which is publicly listed, you need to have a demat account along with a trading account.

Answer 2

In today's world, demat account holds a very important place in our life and we need it desperately:

Step by step explanation:

• A demat account in an electronic format helps us to hold our financial securities.

• NSDL and CDSL are the two depository organizations in India who maintain the demat accounts.

• Demat account helps the investors to hold their shares and securities easily in electronic form rather than the usual papers or physical form.

• The entire process of investing, trading, holding and monitoring the securities becomes very fast and convenient.

• Having a demat account is very vital for trading purpose these days. It helps in reducing the cluster of papers and certificates of the shares and securities.

• You can easily operate your accounts from anywhere and make the required changes I.e. buy and sell shares & securities on your finger tips.