Introduce common demat accounts for financial assets: P Chidambaram

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Introduce common demat accounts for financial assets: P Chidambaram
Finance Minister P Chidambaram asked regulators to expeditiously introduce a common demat account for financial assets, a move that is expected to benefit investors, reported PTI.

Chairing the Financial Stability and Development Council meeting, attended by all financial regulators, Chidambaram also said that inter-regulatory issues should be resolved in a time bound manner by the FSDC Sub-Committee.

"Priority should be accorded to the steps like common demat account for financial assets which will add considerable benefits to the consumers," he said.

Although the deceleration in growth has been arrested in the second quarter of 2013-14, inflationary pressures and structural bottlenecks are some of the factors weighing down the growth process, Chidambaram said.

The Finance Minister "stressed upon the need for the government and the financial sector regulators to ensure robust growth and manage vulnerabilities", according to an official statement.

Read more about: chidambaram
Story first published: Wednesday, February 5, 2014, 9:10 [IST]
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