Investors may have to wait a little longer for Unified Payments Interface (UPI)-based block mechanism in the secondary market even as the market regulator has set the effective launch date as January 1, 2024.
Several brokerage firms said they may take a few months more to implement it.
Investors will be able to register for this facility only if the stock broker has opted for the UPI block facility.
The Bengaluru-based firm has seen its revenue in FY23 revenue cross Rs 200 crore and it plans to onboard 1 million users by 2024. It is also entering the portfolio management service business.
A parent can choose to open a demat account in the name of their minor son or daughter in order to gift them various securities like shares, etc. However it must be noted that although parents can give their own bank account at the time of account opening, but at the redemption the sale proceeds would only be credited to a minor s bank account.