With the passage of time, the number of people investing money in the stock market is increasing rapidly in India, which is evidenced by the record number of Demat accounts being opened. Since the Corona epidemic, people have turned to the stock market to create a new source of income. This is the reason that there has been a spurt in opening demat accounts in the country since then.
Demat accounts exceed 11 crores
The number of demat accounts in the country crossed 11 crores in January this year itself. had crossed. However, there is a big reason for this that many times people open more than one demat account. Many times people do this due to lack of information and sometimes according to the needs of their trade. In recent times, many discount brokers have come in the market, who provide various facilities and offers.
May be needed in these cases
Assume that A trading account is with another broker. After that you got a better deal from another broker. This deal can be of better features, can be about easy user interface or can be about low commission-fees. In this case, you will have to transfer your shares from the old account to the new account.
Can also work online
Let us know today that how to transfer shares from one demat account to another demat account? How can I transfer? First of all, let us tell you that it is easy to transfer shares from one demat account to another. You can do this online as well as offline.
Here is the process to transfer shares from one demat account to another online…
Ask for DIS i.e. Delivery Instruction Slip from your existing broker.
After filling the DIS, submit it to the existing broker.
The broker will send the completed form to the depository.
The depository will transfer your shares to the new account.
The shares will be reflected in your new account as soon as they are transferred from the depository.
What to do with the old account?
If you want to transfer from the old account If you are transferring all your shares in neither account and you do not want to use the old account further, then it is better to close the old demat account. If you do not close the old account, then the maintenance charge will continue to be made on it, due to which you will be at a loss. Let us tell you one important thing here that you can transfer the shares online, but it is not possible to close the demat account online at present.
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