Thursday, 11 October 2012

Demat to include Insurance and Post Office also –Does it mean any thing?

As per latest news, Insurance and Post Office accounts can now find place in demat, known otherwise as a platform for transaction of shares, mutual funds, commodities, and the like. Dealers in stocks have since acquired a complete proficiency in transacting them online and necessary software for the purpose is available in an ample measure making the whole process quite compatible with the very nature of such transactions. In the case of Post Offices, the online operations are not yet in vogue. Major business is still transacted on a  manual basis, particularly saving banks accounts where the account holders find it much more convenient to handle them manually at the local level of a post office. In their cases, withdrawals are frequent ones which may not be that easy when operation takes place online. There, every transaction is transfer based. For Insurance, it may work to some extent but not fully as there again person to person service on individual footing is more acceptable to the insurers. In such circumstances, as it appears on the face of it, handling of the accounts pertaining to Insurance and Post Offices may not prove feasibly convenient to the customers. May be, it is made possible in days to come but certainly not at present.
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