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Beneficiary Account

A beneficiary account is a Demat account in the name of an Individual (single or jointly). Such an account could also be in the name of a Corporate, a partnership firm, a society and a trust. It is similar to a bank account. This account is to be used for transacting in commodity balances held by the account holder at Exchange accredited warehouses. These commodity balances would have been - in a physical process set up - represented through a warehouse receipt.

News On Beneficiary Account
Emirates NBD ties-up with Axis Bank, Empays Payment

19-08-2015| Source:PTI

The remittance service allows money transfers in 60 seconds to the beneficiary's account through the DirectRemit platform, it said

Deposits worth about Rs 21,000 cr mobilised under PMJDY

12-08-2015| Source:PTI

Zero balance accounts in PMJDY have declined to 46.93 percent to July 2015, from 76 percent from September 2014, Finance Ministry said in a statement. Besides, Rupay debit card has been issued to 15

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