General > Union Demat - Overview
Union Demat - Overview
Union Bank of India now offers you the power of the value-added, service-oriented Demat account - Union Demat. Union Bank is a Depository participant of Central Depository Services Ltd.
To carter to your individual needs as diverse as your portfolio, Union Demat will empower you with hassle-free, fast and accurate electronic transactions. Plus you get Union Bank's quality service which you are used to, at all times.
UNION DEMAT: Conduct hassle-free transactions on your shares. Manage your securities at your fingertips.
Today, physical securities are converted to electronic book entries by a Depository. Union Bank of India as a Depository Participant will deliver and/or receive securities on your behalf using your Union Demat account. According to the Depository Act 1996, the investor has the option to hold shares either in physical or electronic mode. SEBI has notified a list of securities where transactions will take list of securities where transactions will take place only in the electronic mode. Thus, you need Union Demat to transact such securities. However, you could later rematerialise the electronic securities and hold them in physical form.