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Time of India
19 hours ago
- Business
- Time of India
Explained: Why holding mutual fund units in demat form makes sense
We live in an age where everything is becoming digital — faster, smarter, and more transparent. The financial sector has been relentlessly trying to innovate to make transactions seamless and investment journeys more efficient. Those who've witnessed the open outcry system of stock exchanges will gladly recall how the shift to online trading and the dematerialization of securities marked a defining leap. What once took days and physical paperwork, now takes just minutes — with a few clicks on a screen. And now, we are witnessing the logical evolution in this journey: Mutual Funds in demat form. Over a decade and a half ago, the Securities and Exchange Board of India ('SEBI') enabled investors to hold Mutual Fund investments — earlier available only as Statement of Account ('SOA') — in demat form through the stock exchange infrastructure. Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Help abandoned elders today HelpAge India Donate Now Undo Since then, the depository ecosystem has continually evolved, enabling investors to manage their Mutual Fund holdings with ease. Today, you can convert your Mutual Fund SOA into demat form through your existing account — without the need to open a separate one. This facility is available to the Non-Resident Indians too, offering a unified experience for all investors. Each mutual fund scheme is assigned a unique ISIN, simplifying tracking and portfolio consolidation. Investors can subscribe to fresh units, Systematic Investment Plans , Equity Linked Savings Schemes, and/or New Fund Offers directly through their stockbroker and the units are credited straight into their demat account. Redemption is equally effortless—through your Depository Participants, broker, or electronically via NSDL 's SPEED-e services. Live Events Holding Mutual Fund units in demat form offers several advantages: a single consolidated portfolio view, automatic updates across all holdings, the ability to pledge for margin or loans, simple off-market transfers for gifting, and unified nomination—all within one digital framework. In a nutshell, this evolution aims to bring greater control, efficiency, and transparency to your mutual fund investments. While investors should factor in demat maintenance charges and brokerage fees. At NSDL, we remain committed to trying to enhance investor experience by building digital infrastructure that aims to support financial inclusion and investor empowerment . We believe holding mutual funds in demat form is not just a technical upgrade—it is the foundation of a more connected, secure, and simplified future of investing. So, start your investment journey by holding mutual fund units in your demat account. (The author Vijay Chandok is Managing Director and CEO, NSDL. Views are own) ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
19 hours ago
- Business
- Economic Times
Explained: Why holding mutual fund units in demat form makes sense
iStock The system simplifies investing. NSDL highlights this as a transformative step in India's financial evolution. We live in an age where everything is becoming digital — faster, smarter, and more transparent. The financial sector has been relentlessly trying to innovate to make transactions seamless and investment journeys more efficient. Those who've witnessed the open outcry system of stock exchanges will gladly recall how the shift to online trading and the dematerialization of securities marked a defining leap. What once took days and physical paperwork, now takes just minutes — with a few clicks on a screen. And now, we are witnessing the logical evolution in this journey: Mutual Funds in demat form. Over a decade and a half ago, the Securities and Exchange Board of India ('SEBI') enabled investors to hold Mutual Fund investments — earlier available only as Statement of Account ('SOA') — in demat form through the stock exchange then, the depository ecosystem has continually evolved, enabling investors to manage their Mutual Fund holdings with ease. Today, you can convert your Mutual Fund SOA into demat form through your existing account — without the need to open a separate one. This facility is available to the Non-Resident Indians too, offering a unified experience for all investors. Each mutual fund scheme is assigned a unique ISIN, simplifying tracking and portfolio consolidation. Investors can subscribe to fresh units, Systematic Investment Plans, Equity Linked Savings Schemes, and/or New Fund Offers directly through their stockbroker and the units are credited straight into their demat account. Redemption is equally effortless—through your Depository Participants, broker, or electronically via NSDL's SPEED-e services. Holding Mutual Fund units in demat form offers several advantages: a single consolidated portfolio view, automatic updates across all holdings, the ability to pledge for margin or loans, simple off-market transfers for gifting, and unified nomination—all within one digital a nutshell, this evolution aims to bring greater control, efficiency, and transparency to your mutual fund investments. While investors should factor in demat maintenance charges and brokerage NSDL, we remain committed to trying to enhance investor experience by building digital infrastructure that aims to support financial inclusion and investor empowerment. We believe holding mutual funds in demat form is not just a technical upgrade—it is the foundation of a more connected, secure, and simplified future of investing. So, start your investment journey by holding mutual fund units in your demat account. (The author Vijay Chandok is Managing Director and CEO, NSDL. Views are own) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Cision Canada
13-05-2025
- Business
- Cision Canada
Scotia Wealth Management enters into an arrangement with ICICI Bank Canada to offer wealth management services to ICICI's high-net-worth clients Français
TORONTO , May 13, 2025 /CNW/ - Scotia Wealth Management, part of the Scotiabank group of companies, and ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited (NYSE: IBN), a leading private sector bank in India, have entered into a referral arrangement. Through this arrangement, high-net-worth clients of ICICI Bank Canada will benefit from the opportunity to access Scotia Wealth Management solutions. ICICI Bank Canada currently offers banking services including account services, money transfers, and NRI referral services. "We are excited about this strategic relationship with ICICI Bank Canada, a trusted name with a strong client base within the South Asian community. We look forward to offering our Total Wealth planning solutions to their clients and extending our market reach into a key cultural segment in Canada," said Jacqui Allard, Group Head, Global Wealth Management, Scotiabank. "Scotia Wealth Management's unique team-based approach provides comprehensive advice, allowing us to better serve the diverse wealth needs of clients in Canada together." "We are delighted to embark on a strategic relationship with Scotia Wealth Management," said Himadar Maddipatla, President and CEO, ICICI Bank Canada. "Our clients value excellence and we are confident that with the knowledge, experience, and scale of the Scotia Wealth Management team and their 'Total Wealth' approach, our clients will benefit. Through this collaboration, clients of ICICI Bank Canada will have access to wealth management services through Scotia Wealth Management, in addition to receiving a comprehensive suite of solutions through ICICI Bank Canada, including Non-Resident Indian services, remittances to India and banking" "This strategy emphasizes our dedication to supporting the diversity of entrepreneurs, business owners, and wealth creators across Canada," said Alex Besharat, Executive Vice President and Head, Canadian Wealth Management, Scotiabank. "Together, we are committed to fostering growth and excellence for both organizations and the clients we serve." About Scotiabank Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at January 31, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit and follow us on X @Scotiabank. To learn more about Scotia Wealth Management, please visit: About ICICI Bank Canada: ICICI Bank Canada is a wholly owned subsidiary of ICICI Bank Limited (NYSE: IBN), a leading private sector bank in India. ICICI Bank Limited's total assets stood at CAD 355.01 billion dollars on March 31, 2025. ICICI Bank Canada conducts business as a full-service direct bank under Canada's Bank Act. The bank has been serving its customers in Canada for 20 years, providing a host of products and services in the financial space. It offers products for both personal and business banking ranging from newcomer banking accounts, personal accounts, mortgages, remittance, business banking accounts, business Fx, small business loans, corporate banking among others. Visit to learn more.
Time of India
23-04-2025
- Business
- Time of India
The NRIs will be India's bulwark against global turmoil
Non-Resident Indians (NRIs) are not only India's soft power, being socio-cultural ambassadors of their motherland, but also flex hard muscles for India. In the RBI 's latest monthly bulletin, central bank economists have said that calibrated policy support can help India turn global volatility into an opportunity and strengthen its position in the emerging world economic landscape. They have also added that inward remittances, along with strong services exports, will provide a buffer for the current account amid global volatility unleashed by trade wars. India's foreign exchange reserves, to which NRI remittances make a significant contribution, rose by $1.5 billion to $677.84 billion as of the week ending April 11, 2025, data released by the Reserve Bank of India showed last week. Remittances account for a significant chunk of nearly 3% of India's GDP. They are a buffer to India's external sector, which faces challenges due to tariffs and trade wars. When India's trade deficit widens, remittances provide a much-needed cushion. being the second largest source of external financing after service exports. Increased remittances also contribute to the accumulation of foreign exchange reserves, strengthening the country's financial position. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo The $100 billion NRI remittances Overseas Indians sent home a record $129.4 billion in 2024 with the highest ever inflows of $ 36 billion in the December quarter alone, as per an analysis of the balance of payments data released by the RBI. (Join our ETNRI WhatsApp channel for all the latest updates) The country received over $100 billion as remittances for the third year in a row. Globally it has been among the top recipients for over 25 years since the information technology boom in the nineties and has been consistently occupying the top most t place since 2008. Live Events You Might Also Like: Rise of the white-collar NRI gives India hard power Remittances are typically linked to employment conditions in the source country and migration pattern in the recipient country. India's stock of international migrants has tripled from 6.6 million in 1990 to 18.5 million in 2024, with its share in global migrants rising from 4.3 per cent to over 6 per cent during the same period. Indian migrants in the GCC countries account for around half of the total Indian migrants in the world. Also Read: NRI deposits rise over 23% in FY25 till February A survey on remittances published in a recent RBI bulletin notes, 'The competitive edge and the penetration of Indian IT services overseas at the start of the century, the number of skilled emigrants to advanced economies, especially to the US, has risen significantly. Thus, besides the GCC, advanced economies have also emerged as a major source of inward remittances to India over the years'. While challenges such as high transaction costs, currency volatility, and regulatory complexities persist, the RBI's proactive measures are geared towards creating a more conducive environment for NRI remittances. By offering better returns on deposits, simplifying foreign exchange regulations, and promoting digital payment solutions, the RBI aims to bolster remittance inflows, thereby strengthening India's current account and overall economic stability. Rise of the white-collar NRI Indian migrants in the Gulf Cooperation Council (GCC) countries account for around half of the total Indian migrants in the world. The United Arab Emirates (UAE) is the largest hub for Indian migrant workers engaged primarily in blue-collar jobs which are dominated by the construction industry followed by healthcare, hospitality, and tourism. As per a recent RBI article, there is a gradual shift seen in remittance sources. "The results of the survey highlight the gradual shift in dominance of India's remittances from the GCC countries to the AEs (advanced economies) particularly the US, the UK, Singapore, Canada and Australia which together accounted for more than half of the remittances in 2023-24," the article said. The GCC countries (UAE, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain) together contributed 38 per cent to total remittances received by India in 2023-24, higher than its share recorded in 2020-21 (COVID-19 pandemic year). The share of the US in India's total remittances remained largest, rising to 27.7 per cent. The UAE, the largest hub for Indian migrant workers, maintained its position as the second largest source of India's remittances, with its share increasing from 18 per cent in 2020-21 to 19.2 per cent in 2023-24. "This is in stark contrast to the US where Indian migrants are mainly employed in the white-collar jobs, thus explaining the higher remittances received from US despite the lower number of migrants as compared to the UAE," the article said. For Indians, opportunities to work in foreign countries first started pouring in a big way during the seventies when the oil boom in the Persian gulf countries created openings for Indian semi-skilled workers. This led to some initial pick up in remittances. Later in the nineties, the IT boom created a huge market for Indian skilled IT professionals in advanced economies in North America and Europe. This led to a surge in remittances to India leading India to emerge as one of the top recipients of remittances. The success of the NRIs who have reached top positions in several fields in advanced countries has led to more remittances from those countries. Why NRIs are increasingly investing back home Increasingly, the NRIs are investing in India across asset classes. In an interview with ET, Harsh Gahlaut, Co-founder & CEO, FinEdge, listed four reasons why India is currently attracting significant interest from NRI investors. Rise of the Indian Economy led by favourable demographics: India's rapid economic growth, marked by the tag of the world's fastest-growing major economy, has been a big factor for the country attracting investments from all over the world. Being tipped as a huge consumption and manufacturing story India is projected to become a 5 trillion-dollar economy by 2025. With structural reforms and huge spending on infrastructure, the government of the day is ensuring that the right growth drivers are in place for India to become a developed economy by 2047. We are fast approaching tipping points in higher per capita income which should lead to exponential growth over the next two decades. Performance of the Indian Stock Market: The Indian stock market has consistently delivered strong returns over the past years and there has been large retail participation happening in the overall stock market growth story. A growing economy translates into higher stock market valuation and hence the long-term prospects of the stock markets remain upbeat in line with these growth projections. The Indian stock market is also considered among the most well-regulated in the world. Improved Standard of Living: We are increasingly seeing the trend of reverse brain drain happening in India. With opportunities abound and the start-up ecosystem coming of age, a lot of global Indians are moving back to capitalise on this trend. The improved living standard with infrastructure upgrades is adding to India becoming an attractive destination for NRIs to own assets here. Depreciation of the Indian Rupee: The weakening of the Indian Rupee against major global currencies offers NRIs a favourable exchange rate advantage. This depreciation makes investing in Indian assets, including real estate and equities more advantageous for NRIs earning in foreign currency.
