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The process of investment has seen major turns in the last couple of decades. With the arrival of online technology, things have become much more dynamic. E-commerce is gradually becoming a preferred option. The same stands for the stock market and shares. Previously, an investor would keep physical share certificates with himself and trade with them which would take up a lot of time and paperwork. With the arrival of the concept of dematerialization, things have taken a turn for the better.
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The digitization of the share market has revolutionized the way of investing in stocks. Investors and potential investors these days are keeping the prospect of opening a Demat account within their sight. If you happen to be one of them there are 5 things which you should bear in mind prior to opening a Demat account.
What Is A Demat account?
A Demat account is just like a bank account with the difference that it deals with, in electronic form, stocks instead of cash. A Demat account uses the concept of dematerialization for its operative function. Dematerialization is the process in which physical share certificates are converted into electronic form. A Demat account, accordingly, uses this technology to store all of an investor’s stock under one roof: these include government securities, mutual funds, shares, bonds, etc. Just like a bank account deals with credit and debit of cash, a Demat account engages in buying and selling shares respectively.
Under the guidelines of SEBI, there are two depositories in India: National Securities Depository Limited (NSDL) and Central Depository Securities Limited (CDSL). Though NSDL is the largest and biggest Demat Depository in India, last year CDSL overtook it in the total number of accounts:
|Custody value of DemAt (in $Trillion)||192.5||21.6|
As of December 31, 2019. Data Source: Business Standard
How To Open A Demat account
After having a brief idea about the Demat account, the question which immediately follows is how to open a Demat account? Opening a Demat account is totally an unambiguous method.
Opening a Demat account is extremely simple. SOURCE: Pixabay
You merely have to follow certain simple and easy steps to know how to open a Demat account. These steps are given below:
Opting For A Depository Participant
Choosing a Depository Participant (DP) is the first step towards opening a Demat account. A DP acts as an intermediary between you and the depository with whom you will be having your account. From stockbrokers to many online platforms, you have innumerable options to choose from to get a DP. Therefore, it will not be difficult for you to find them on the basis of your convenience and compatibility. Once you have picked a DP for yourself, they can also assist you in further queries about how to open a Demat account.
Filling A Demat Application Form
After choosing the DP, you will be asked to fill a Demat account form. In it, you will be required to write the necessary details to make a profile by which you will be operating your Demat account.
Submitting Verification Documents
Following the first two processes, you will be required to submit verification documents containing income proof, address proof, and identity proof. These documents would generally include your PAN card, Aadhar Card, Voter’s ID, electricity bill, etc.
After having submitted the verification documents, you will be asked to make an in-person verification. This can be done in two ways: either you will be asked to be present in the DP’s office or it can be done online with the help of a webcam.
Agreement And ID Number
The final step will include signing the agreement stipulating the terms and conditions between you and the DP. Also, you will be given an identification number with which you will be operating and conducting your account transactions.
Types Of Brokerage
In India, there are basically two types of brokers: discount brokers and full-service brokers. Discount brokers offer you services in terms of carrying out your decisions and help you in acquiring equities and other trading services. Whereas, a full-service broker provides investment opportunities in mutual funds, equities, IPOs, etc. Their service also ranges from managing your profile to giving you advice to handling other technical issues that you might face with your Demat account and stock.
Types Of Charges
The question which usually follows how to open a Demat account is what types of charges does a Demat account comes with? Charges differ with different DPs and it is needless to say that you should pick the one which provides quality at a reasonable price. Nevertheless, the following are the types of charges involved with a Demat account:
- Account Opening Charges: There are some DPs who usually charge a nominal fee for opening a Demat account. However, recently there are more and more DPs who do not charge anything for opening a Demat account.
- Annual Maintenance Charge (AMC): To maintain your account, DPs charge AMC. However, with different DPs the AMC varies with some even offering the first year to be free of any AMC.
- Dematerialization Charge: For converting your shares from physical to electronic format, you have to pay dematerialization charges. The charges are also applied for reconverting them back into the physical format.
- Transaction Fee: For the buying and selling of each share, you will have to pay a transaction fee. With some DPs, the transaction fee is applied for the whole month whereas for others it is imposed on each transaction.
Benefits Of A Demat account
The most important question, perhaps even more important than how to open a Demat account is what are its benefits. Following are some of the perks which come along with opening a Demat account:
- It can be maintained with zero balance.
- There is no fear of the damaging of the shares.
- Ease of accessibility as it can be used from a smartphone or a computer.
- You can freeze the account for a given period and thereby, stopping all immediate activities.
- Regularly updated and faster than the physical maintenance of shares.
- Stocks in a Demat account can be used to avail a loan.
- Provides the benefit of rematerialization: the process in which electronic stocks are converted back into physical stocks.
Such benefits serve as an impetus for an investor to make a Demat account. From the steps of how to open a Demat account to its benefits, the account offers only convenience and ease of access from all spheres. Now that everything is being digitized, why should your stocks remain behind? In any case, the point is if you are going to invest anyway why not do it with an advanced and more reliable option of the Demat account? If nothing else, there would be nothing lost in giving it a try at least.
[Disclaimer: The article published above promotes links of commercial interests.]
The new medical colleges being opened in Uttar Pradesh will be named after saints and sages.
The state government has issued an order naming four district hospitals that are being converted into medical colleges.
These district hospitals are in Bijnor, Fatehpur, Chandauli, and Siddharth Nagar.
The Bijnor medical college has been named after Mahatma Vidur, a philosopher during the Mahabharata era and uncle of the Pandavas and Kauravas.
The Chandauli medical college has been named after Baba Keenaram, said to be the founder of the Aghori sect.
The Siddharth Nagar district hospital will be called Madhav Prasad Tripathi Medical College after the BJP politician from the region. Tripathi, popularly known as Madhav Babu, was also the first Uttar Pradesh BJP chief. He was elected MP from Domariyaganj in 1977, besides being two times Jan Sangh MLA and also a member of the UP legislative council.
The Fatehpur hospital has been named Amar Shaheed Jodha Singh Ataiya Thakur Dariyawn Singh Medical College, after the freedom fighter of 1857.
It is said that he was among the first to use Guerrilla warfare against the British, as taught by freedom fighter Tatya Tope.
Meanwhile, according to official sources, the medical college in Deoria will be named after Maharishi Devraha Baba and the medical college of Ghazipur in the name of Maharishi Vishwamitra.
The medical college of Mirzapur will be in the name of Maa Vindhyavasini, the medical college of Pratapgarh in the name of Dr. Sonelal Patel and the medical college of Etah will be named after Veerangana Avantibai Lodhi. (IANS/JB)
Keywords: Medical Colleges, Uttar Pradesh, Yogi Adityanath, India, Politics
Former Pakistan captain Inzamam-ul-Haq has picked India as the favourite to win the ongoing ICC Men's T20 World Cup in Oman and United Arab Emirates (UAE).
Inzamam feels that the Virat Kohli-led India have a greater chance of winning the trophy as the conditions in the Gulf nations are similar to the subcontinent, which makes India the most dangerous side in the event, according to Inzamam.
"In any tournament, it cannot be said for certain that a particular team will win' It's all about how much chance do they have of winning it. In my opinion, India have a greater chance than any other team of winning this tournament, especially in conditions like these. They have experienced T20 players as well," said Inzamam on his YouTube channel.
He said more than the Indian batters, the bowlers have a lot of experience of playing in the conditions. The Indian Premier League (IPL) was played recently in UAE and most of the Indian bowlers did well in that leg.
Inzy heaped praises on the Men in Blue for the confident manner in which they chased the target against Australia on a challenging track without needing Kohli's batting prowess.
"India played their warm-up fixture against Australia rather comfortably. On subcontinent pitches like these, India are the most dangerous T20 side in the world. Even today, if we see the 155 runs they chased down, they did not even need Virat Kohli to do so," he added.
Though he did not pick any favourite, Inzamam termed the India-Pakistan clash in the Super 12 on October 24 as the 'final before the final' and said the team winning it will go into the remaining matches high on morale,
"The match between India and Pakistan in the Super 12s is the final before the final. No match will be hyped as much as this one. Even in the 2017 Champions Trophy, India and Pakistan started and finished the tournament by facing each other, and both the matches felt like finals. The team winning that match will have their morale boosted and will also have 50 percent of pressure released from them," Inzamam added. (IANS/JB)
Keywords: India, Pakistan, Sports, ICC T20 World Cup, UAE.
Skin problems like itchiness, dryness and flakiness can occur anytime if you're not moisturising your body enough. It is commonly observed that while many people take their skincare routine seriously, a majority of them neglect to moisturise the body. It is important to keep in mind that timing matters a lot when it comes to applying moisturisers. Therefore, knowing the appropriate time to apply body lotion is essential.
Take a look at the ideal times to moisturise your body shared by Kimi Jain, Head of Retail, KIMRICA.
Moisturising the body in the morning sets your skin up to face countless irritants and environmental factors during the day. The skin is constantly exposed to harsh chemicals and pollutants when you're outside which is why using a protective and soothing moisturiser while going out is necessary. Kimirica's Five Elements Body Lotion comes with natural Aloe Vera extracts that act as a rich source of antioxidants and vitamins that helps protect your skin and provide a deep nourishing effect.
Moisturising the body in the morning sets your skin up to face countless irritants and environmental factors during the day. | Photo by The Creative Exchange on Unsplash
After showering, Shaving and Washing hands
After you take a shower, your skin has the maximum moisture and moisturisers work effectively on hydrated skin. That is why dermatologists always recommend applying moisturiser right after getting out of the shower. When applied early, moisturisers are able to trap some water that's still in the body and hydrate the body. Shaving not only helps you to get rid of unwanted body hair but also removes the surface skin cells. To soothe any skin irritation and protect the exposed skin from dryness, apply any hydrating moisturiser that gives your skin a natural glow. The increasing use of antibacterial soaps and hand wash takes a toll on your hand disrupting the natural skin barrier. To protect your hands from cracking and dryness, you can use the brand's Bouquet Hand Lotion that comes with a rich combination of sweet almond oil, Shea butter, grape seed extracts, Olive Oil and Jojoba Oil.
The increasing use of antibacterial soaps and hand wash takes a toll on your hand disrupting the natural skin barrier. | Photo by Nathan Dumlao on Unsplash
During and After Your Flights
Travelling makes your skin dryer, the reason being the low humidity and the recycled air inside. As body lotions are available in small sizes, it is advisable that you should carry your body lotion and apply it during your flight and once you land as this will help in combating the skin drying issue.
Research has shown that the skin effectively repairs itself from 10 p.m. to 11 p.m. That's why you should always make sure to moisturise your skin on or before this time. Also, it has been observed that the skin's trans-epidermal water loss increases during sleep which takes away plenty of moisture from the skin. So, all these reasons make it quite clear as to why you should always moisturise your body before going to sleep.
Research has shown that the skin effectively repairs itself from 10 p.m. to 11 p.m. | Photo by Aily Torres on Unsplash
Exfoliation is an important step in any skincare routine but applying body lotion post exfoliating is equally required. Exfoliating results in the removal of dead skin cells which makes space for a new layer of skin. Applying body lotion will help to soothe the top layer of skin and also strengthen the moisture barrier.
Applying body lotion will help to soothe the top layer of skin and also strengthen the moisture barrier. | Photo by Nati Melnychuk on Unsplash
Workout sessions are often sweaty and tiring but preparing your skin before stepping out is very important as exercising outside often leads to dryness. Applying light-weight body lotion before your session is recommended. (IANS/ MBI)
Keywords: natural, protect, moisturize, dryness, applying, lotion, skincare, hands, body