Shri Mohit Pande, Thank you. I bring some other equally important points to your notice, which can be brought to the notice of the Finance Ministry. Over two decades have passed since the electronic trading and dematerialization system can into existence in this country. And even with the paperless drive from the Hon’ble Prime Minister himself, it is a shame that huge stocks are still held in paper form and it is really a pain to get them dematerialized, believe me. This can be simplified, which I can explain with the help of an example. Stock Exchanges need money for their maintenance, and yet no investor trader bears any such cost directly. It is borne by the companies, whose stocks get listed on the stock exchanges. Investor Traders only pay the transaction charges, if and when they invest or trade on the exchange. But to hold stocks of these very listed companies in CSDL or NSDL, investor needs to pay monthly or yearly Demat maintenance charges. Why? Instead, the said maintenance charges also should be borne by the companies, whose shares are going to be held by CSDL or NSDL in dematerialized form, and the investor pays the transaction charges, if and when one buys or sells the stock from one’s Demat account. This shall solve the major problem and there shall be no need to hold the stocks in paper forms at all. Moreover, as Demat is connected to the bank account, the PAN and Aadhar also get connected, and no one shall be in a position to cheat. This shall stop the further need for paper for dividend warrants, etc as the dividend shall get directly into one’s bank account. Then there are senior citizens retired from private sector, who have no pension, but do look for any help from the government because they have planned their retirement by proper investments in stocks. But the same investment is unreachable for them and there is no one to resolve the issue. SEBI when contacted, refuses to look into such ‘small’ problems. Therefore, there needs to be some single window to help the senior citizens, for getting their grievances properly addressed. There are also senior citizens, who are required to spend their life time saving in getting their daughters married. Thereafter, the parents stay with one or the other daughter. This raises a major problem for getting an address proof for their residence because married daughter’s address is not acceptable to be the address for the parents, but married son’s address is. These are some practical difficulties, which many senior citizens are facing, and can only be resolved by the government policies and their time bound implementation. Thanks and regards.
Oct 18