Feb 4 2014
Finance minister P Chidambaram has asked financial sector regulators to prioritise moving to a single DEMAT account for all financial investments.
Chidambaram was chairing a meeting of the Financial Stability Development Council and asked regulators to priortise common demat account for financial assets, which will add considerable benefits to consumers.
Few days later, Market regulator SEBI said investors will soon be able to have a single dematerialized account for all classes of their financial investments.
SEBI, Joint Director, Prabhakar R Patil at an annual national conference at Guru Jambheshwar University of Science and Technology (GJUST) said – “All financial instruments can be operated through single dematerialized account and this facility will be operational by the end of 2014-15.