Understand the importance of dematerialization
Dematerialization is a process where all the physical documents are converted to electronic documents and are held in the Demat account. The depository is solely liable for maintaining every the electronic documents.
The process of dematerialization
The process starts subsequently establishment a Demat account.
You craving to fill a dematerialization demand form that is friendly in the depository participant.
Once the demand is endorsed all the partnered mammal documents will be destroyed and the affirmation of dematerialization will be sent to the depository.
Again a confirmation is sent urge on from the depository to the depository participant and subsequently it will be reflected in the account electronically.
The collection process will resign yourself to 15 to 30 days to total from the date of agreement of the demand form.
In order to carry the sum up process one should compulsorily possess a Demat account else this is not feasible at all.
Why was dematerialization needed?
Handling of supervision that is associated to shares, invoices etc. is getting hard hours of daylight by day. subsequent to they are huge in number it is no question difficult to buildup and manage. That is why people started getting all documents in electronic format. Even we can see fiscal dematerialization of invoices (dématérialisation fiscale des factures) in many companies.
Tracking of the stamp album is unconditionally difficult in the manner of subconscious documents. Especially if we want to track history that are generated several decades help is essentially a hectic one. appropriately keeping well along in mind, right now we are focusing more on dematerialization. This is the infatuation of the hour and as a consequence it is unconditionally eco-friendly as the paper usage is maximum reduced bearing in mind dematerialization. correspondingly we as a responsible citizen should sustain dematerialization.