Urban co-operative banks are now allowed to open a demat account for customers to provide online trading facility, according to the Reserve Bank of India. “However, considering the high risk involved in such services, it has been decided to allow only Scheduled Primary (Urban) Co-operative Banks, with prior approval of the Reserve Bank, to provide online trading facility to their demat account holders by entering into a tie-up with a broking entity,” the RBI said in a notification..........
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