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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
Govt to expand DBT to 147 schemes by next March: Lavasa

18-09-2016| Source:PTI

and fertiliser directlyvia bank accounts of beneficiaries, a top official has said.

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