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SEBI proposes demat form for FDs, insurance policies

Dematerialization of assets will enable the investor to view the details of his holdings and transactions across all asset classes through a single consolidated statement

October 09, 2012 4:09 IST | India Infoline News Service
The Securities and Exchange Board of India (SEBI) in its board meeting has proposed bring more classes of financial products, including insurance policies and fixed deposits, under the ambit of asset categories that can be held in demat or electronic form.

“There have been demands for dematerialization of assets/records other than securities, such as, warehouse receipts, fixed deposits with banks and corporates, insurance policies, investment products of post office, etc,” the SEBI press release said on 6th October.

To expand the list of asset classes which can be held in demat form, SEBI said, it has decided to initiate steps that would enable an investor to view the details of his holdings and transactions across all asset classes through a single consolidated statement.

At present, all the securities traded in capital markets such as equity shares and mutual funds can be held in demat accounts, maintained by two depositories National Securities Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL), which come under SEBI's jurisdiction.

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