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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
Black money probe: India seeks details of secret accounts

29-06-2014| Source:IBNLive.com

The names of certain Indian individuals and entities came under the scanner of the Swiss authorities during an ongoing exercise to identify the real beneficiary owners of funds held in various banks

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