Single demat account for all investments on anvil

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Single-demat-accountMarket regulator Sebi on Thursday said investors will soon be able to have a single dematerialized account for all classes of their financial investments.

“All financial instruments can be operated through single dematerialized account and this facility will be operational by the end of 2014-15,” said Sebi, Joint Director, Prabhakar R Patil in Mumbai.

He stated this while delivering his address on ‘Indian Securities Market-the Journey and the Way Ahead’, at an annual national conference held at Guru Jambheshwar University of Science and Technology (GJUST).

He further said Foreign Institutional Investors (FIIs) have invested Rs 3,277 crore ($532 million) in Indian equity market till January 27, 2014.

Earlier, speaking on this occasion, Lt Gen (Retd.) K S Yadava, Vice-Chancellor, YMCA University of Science and Technology, Faridabad, said fostering a culture of innovation would drive growth by creating opportunities for individuals in the economy.

He emphasized upon the commitment and culture of trust between employer and employee.