DEMAT ACCOUNT
Zerodha to stop sharing brokerage revenue for demat account opening through referrals
A recent NSE circular has disallowed sharing brokerage income for referrals to prevent trade inducement. Zerodha said it would pay out all referral wallet balances over Rs 10 and stop the referral program from August 25.
There is more to banking than SBI and HDFC Bank: 7 bank stocks which are a kind of hybrid of PSU and Private banks
In the last few days, there has been a debate about PSU and private banks. A debate which partially has been ignited by the fact that in the last few trading sessions both the PSU and private banks have come under pressure. There is a third set of banks which once again not finding much mention on the street. But the fact is that over the last few years, they have been improving their performance. The reason for the improvement is simple, when RBI makes a change in law, it applies equally to all, whether it is HDFC banks or SBI or a bank which is neither private nor public and is some sort of hybrid. So, these lesser talked ones are a set which come with their own shortcoming and strength.
Demat accounts: Groww market share crosses 25%, Zerodha continues to lose
According to Motilal Oswal, the market share of Groww stood at 25.1% after rising 41 bps MoM. At the same time, Zerodha's market share went down by 25 bps to 17.1% in July. Angel One also continued to attract investors as the market share of the third largest player in the industry rose 9 bps to 15.3%.
ICICI Bank, RailTel among 77 stocks that will announce dividend, bonus, split, rights issue next week. Do you own any?
he record date is the date set by the company to decide the shareholders who are eligible to receive the offer. To be eligible for a buyback offer, bonus issue or a stock split, the shares should be in the demat account on the record date.
Groww faces technical glitch, users report issues with orders and Demat balances
Discount broking platform Groww experienced a technical glitch this morning, disrupting users' ability to place orders and access Demat balances. The outage has caused widespread difficulties, leaving many unable to use essential services. Affected users took to platform X to express concerns, with one user asking, “@_groww unable to use my Demat Balance, what's wrong?”
BHEL, Bharti Airtel among 92 stocks with dividend, bonus, split next week. Do you own any?
BHEL, Eicher Motors, Bharti Airtel, and NTPC were among companies gearing up for attention due to upcoming record dates for dividends, bonus issues, and stock splits. Key dates ranged from August 5 to August 9, with major announcements anticipated from firms like Britannia, NTPC, and Rajoo Engineers concerning final dividends and bonus issues.
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Tax filings more challenging on surge in F&O, gaming app play
The massive jump in retail participation in futures and options trading, crypto trading and sports betting has increased the tax filing challenges for chartered accountants and lawyers. People who are helping consumers file their taxes told ET that many of them have undertaken 25,000 FnO transactions, more than 1 lakh crypto trades and actively bet on sports.
REC declares interim dividend of Rs 3.50. Check record date
Additionally, the company has also informed that the record date for the purpose of determining the eligible shareholders for the dividend payout has been fixed as August 9.
Zerodha to make demat account opening free for all Indian investors
India's leading brokerage Zerodha on Wednesday said it is now making demat account opening for all resident investors in India free of cost.
Retail investors own Rs 64 lakh crore worth of stocks directly and via MFs
The economic survey reveals a significant increase in retail investor activity in Indian capital markets.
Demat accounts surge to 16.2 crore, 42 lakh new accounts added in June: Motilal Oswal
In June 2024, CDSL continued to gain market share in terms of the total number of demat accounts. It raised its overall market share MoM. On a YoY basis, NSDL lost 420 bps and 620 bps market share in total and incremental demat accounts respectively.
Angel One's data breach dates back to April 2023, company clarifies
There has been no breach of any data since the incident reported to the stock exchanges on April 21, 2023, Angel One said.
For a handful of equity and shine, investors open 4.3 m Demat a/cs
In recent activity, nearly 3.9 million new investor accounts were opened with the Central Depository Services Ltd (CDSL), and an additional 0.4 million accounts were registered with the National Securities Depository (NSDL). By comparison, May witnessed a total of 4 million new accounts, while April saw 2.6 million new accounts.
Sebi tweaks rules for Basic Service Demat Account. Check eligibility, charges
Sebi has introduced new rules for Basic Service Demat Accounts (BSDA). To be eligible, individuals must have only one demat account where they are the primary holder and only one BSDA across all depositories.
Is there any advantage of buying mutual funds in a demat form?
Once you have chosen a mutual fund scheme to buy, the next step is to proceed to buy these units and execute your transaction. There are a number of ways to buy mutual funds, be it the fund house websites, RTA (registrar and transfer agent) websites, third-party platforms and stock brokers.
Your mutual fund redemptions, SWP, switch, STP will stop if you don’t do this by July 1
Mutual fund unit holders must submit nomination information in a prescribed manner and opt out of nomination if needed using a regulated declaration form.
PNB to close some dormant A/Cs
Punjab National Bank will close dormant accounts inactive for over three years to prevent misuse, unless KYC documents are submitted; exemptions include accounts linked to DEMAT, lockers, student accounts, and those frozen by statutory bodies.
Demat account for minors: How to open with Zerodha, other brokers? Check documents required, other details
Teaching minors about stock markets, demat accounts, and investment strategies is crucial for financial discipline and smart money management.
Overall ADTO declines MoM as new demat accounts rise: Motilal Oswal
In May 2024, demat account additions surged by 36 lakh, but the overall average daily turnover (ADTO) in the financial markets declined by 3% to Rs 433 lakh crore. While F&O ADTO decreased by 3%, cash ADTO rose by 5.5%. Active users on NSE increased to 4.29 crore.
Demat, MF A/cs won't be frozen for not filing nomination
Sebi announced it won't freeze demat accounts and mutual fund folios for existing investors without nominations. New investors must provide mandatory nominations, ensuring smoother processes and compliance in the market.
Demat POA misuse prevention: Stockbrokers implement a new authorisation method for demat debit and pledge, should you opt for it?
Demat account: Zerodha, FYERS and other stock brokers have enabled DDPI mechanism for their customers. This new mechanism replaces Power of Attorney (PoA) mechanism, however opting for it is optional for you. Read here to know whether you should stick with PoA, e-DIS (OTP and TPIN) or use the new DDPI method to authorise demat account transactions.
New threshold for basic demat accounts
Sebi proposes raising the threshold for basic service demat accounts to ₹10 lakh from ₹2 lakh, aiming to ease the financial burden on retail investors by reducing the cost of maintaining securities in demat accounts.
Investors to get direct payout of securities now
Sebi mandates direct transfer of securities to demat accounts by clearing corporations to protect clients' assets. A Balakrishnan from Geojit Financial Services praises the move for enhancing security, ease of margin trading, auto pledge for funded stocks, effective from October 14, improving the margin trading facility.
Sebi mandates direct transfer of securities by clearing corporations to Demat accounts
The proposed change seeks to streamline operations and mitigate risk by directly crediting securities payouts to clients' Demat accounts, bypassing the broker's pool account.
Sebi mulls raising limit for basic service demat account to Rs 10 lakh
Capital markets regulator Sebi on Wednesday proposed to enhance the threshold for the basic service demat account (BSDA) to Rs 10 lakh from the current Rs 2 lakh in a bid to boost the participation of retail investors in the securities market.
SBI asks staff to seek nod for opening demat accounts with other brokerages
SBI has more than 230,000 employees spread across 22,500 branches in the country. The SBI group is also the biggest asset manager in India's mutual fund industry, with assets under management (AUM) exceeding the pooled funds run by either the ICICI Group or the HDFC Group.
Demat account additions flat at 31 lakh in April. Overall tally rises to 15.40 crore
The number of Demat accounts increased by 31 lakh in April to 15.40 crore accounts with month-on-month (MoM) growth remaining flat and in line with the average monthly additions of 31 lakh in FY2024, according to a press note released by Motilal Oswal Financial Services (MOFSL).
Zerodha, 4 other discount brokers widen lead in active clients vs traditional brokers in April
Top five discount brokers expanded their lead over traditional ones in active clients on NSE, reaching 63.9% share in the previous month, up from 60.1% in April 2023. NSE's active clients rose by 2.6% sequentially to 4.18 crore in April, as per Motilal Oswal.
CDSL adds 1.09 crore demat accounts in March quarter
CDSL added 85 lakh new accounts in the December 2023 quarter, 80 lakh in the September quarter, and 52 lakh in the March 2023 quarter, the depository said in an exchange filing.
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