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Exploring your wealth and new opportunities to invest is the right way to enhance your financial portfolio. It gives you a sense of the financial world and what steps are required to improve your returns in the long run. It is easy to check the Demat account status online. As a trader who trades in regular time duration, it’s important to know about your Demat account activity.
For a start, you can take the example of a savings bank account. A savings bank account can be accessed through your smartphone. You can check your bank balance, weekly statements, or even monthly account statements. Likewise, the Demat account displays all the relevant information about the Demat account transactions. An assets and profit-loss ratio summary can be viewed on your account.
Remember, it’s better to open a 2-in-1 Demat and trading account with the same brokerage company. A stockbroker like Share India provides a full-fledged stock trading service. With Share India, you can open a free Demat and trading account online.
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Understanding Your Demat Account Statement
When you operate a Demat account with a depository participant, it is obvious that you are trading through an online trading portal. This medium can be either a mobile app or a website. This portal will provide the Demat holding statement. It will also offer you insight and stock advice with different charts and strategies for trading in the stock market. Another option to get your Demat account statement is through the Central Depository Services Limited (CDSL) website.
A consolidated account statement allows an investor to view the statement of Demat holdings and trading activity. These statements provide investors with a consolidated view of all their investments in the stock market. The steps to check the Demat account status are as follows:
- Visit the CDSL website.
- Click on login and enter your Beneficiary Owner Identification Number (BO ID) and password.
- Enter your PAN card details and date of birth (DOB).
- Complete the captcha requirements.
- Enter the OTP, which will be sent to your registered mobile number.
As you log into the CDSL website, you can access and download your Consolidated Account Statement (CAS) in order to cross-verify your Demat holding statement. You can select a date range, modify a monthly or annual timeframe, and download the Demat account holding statements accordingly.
As a vigilant trader, you need to check your Demat account regularly to make sure that your Demat account is functioning smoothly. You also need to note whether the shares are credited or not after purchasing them from the market. You can contact your broker to fix issues if anything seems wrong.
There have been a few recent scams around shares and Demat accounts, where the transaction in the Demat account was suspicious and harmed the user’s holding. You are the sole owner of your Demat account. It is crucial that you don’t share the OTP or password of your Demat account with anyone on any messaging or social media network.
Accessing Your Free Demat Account Statement
Indian investors and traders operating the Demat account can purchase and safeguard their shares on any of the two depositories, which are the National Securities Depository Limited (NSDL) or the CDSL.
As a trader, you need to be aware of the function of the depositories where your Demat account and shares are located. A depository participant is registered with the Securities and Exchange Board of India (SEBI), the regulatory body for the money market in India.
All traders need to be aware of their Demat account statements and know how to read them.
Key Considerations for Analyzing Your Demat Account Statement
As an individual, you have gained access to the CAS and can view your Demat account statement. Some of the technical aspects to look for in the CAS statement of your Demat account are as follows:
Your Personal Details
The first and most important thing you need to know about are your personal details, such as your name, Demat account number, and other details.
Folio Number
A folio number is unique information to differentiate each investor who owns a Demat account. It is also known as the identity stamp for all future and recent investments made by the user.
Different Fund Options and Names
This section displays the names of the funds as well as any dividends and growth of the funds.
The Net Asset Value of Your Demat Holdings
The Net Asset Value (NAV) varies on a daily basis. You need to check the NAV in the statement from the time of investment and at regular intervals.
Transaction History
This is the summary of all transactions an investor has made in the share market. So along with this, the Systematic Investment Plan (SIP) and the Systematic Withdrawal Plan (SWP) can also be shown in the transaction history of the Demat account.
Optimizing Your Demat Account Journey
As an investor, you need to understand your trading goals and your risk appetite. To lower your risk, you need to diversify your financial investments and handpick stocks which can give you better returns over the long run. You need to be aware of your trade. It is a good practice to overview all the transaction activity in the Demat account.
If you have understood how to check the Demat account status from this article, then you can be well-versed about your Demat account activity. To safeguard against Demat account fraud, regularly monitor your Demat account statements for any unauthorised or suspicious transactions and promptly report any discrepancies to your depository participant (DP) and the relevant authorities. To further protect your Demat account against fraud, consider enabling two-factor authentication (2FA) for all online transactions and regularly update your login credentials to ensure the security of your account.