In its most basic form, a demat account is a bank account/wallet for securities. If a person wants to buy securities like stocks and bonds, they must first open a demat account in their name, which allows them to store their holdings in a dematerialized or digital format. The holders of bank accounts can view their bank statements on a paper passbook or online. A demat account performs the same job. It displays a person's demat account's transaction history, allowing them to keep track of transactions and check that they have received any shares for which they have bought.
Any shares purchased by investors in India are maintained in two types of accounts that function as electronic depositories.
National Securities Depository Limited (NSDL)
Central Depository Service Limited (CDSL)
Consolidated Account Statement.
When trying to understand a demat account statement, this document is the most important part of the procedure. A consolidated account statement, often known as a CAS, is a single document that covers all transactional and investment information for mutual fund investments and depository accounts. It is, in fact, a collection of all investments and transactions done through these channels. Investors can use the CAS to comprehend their statement of demat account and to learn how to check their demat account balances and statements. It also offers complete documentation of any holdings the investor may have, as well as a consolidated view of all holdings. It also allows investors to view statements across demat accounts regardless of the broker because it is accessed using the NSDL and CDSL.
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How can you access your demat account details?
All investors can now check their CAS online using the CDSL website by following the steps below:
- Go to cdslindia.com to access the CDSL website.
- Select 'Login' from the 'Quick Links' button on the homepage and log in to - CAS.
- Next, type in your PAN number.
- Next, type in your Demat Account Number.
- Fill in any other requested information, such as your date of birth and the captcha requirements.
- Submit your request
- An OTP will be sent to your registered mobile number, which you can use to verify your login.
If you're a serious investor, you're probably always seeking for new methods to diversify your holdings. However, with a variety of depository participants to meet all types of investor appetites, investors can now diversify not just their assets, but also their investment medium. While it is unusual for a depository participant to close its doors abruptly, your shares will be safe even if they do, you may want to open demat accounts with many DPs to take advantage of the varied rates and services they provide.
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