PUNE, JULY 18: The Cosmos Cooperative Bank launched its Dematerialisation (DEMAT) services to facilitate the safe keeping of stock market investments of its customers on Sunday afternoon. This special depository service cell was inaugurated at the hands of executive director of the Reserve Bank of India, M G Srivastav.To facilitate this service, the bank tied up with the National securities Depository Limited to work as its depository participant. This is a V-sat based facility that enables the banks customers to monitor their stock market investments.The customers' physical share certificates are converted to equivalent number of securities in electronic form and are credited to his depository account. This, the bank claims, reduces theft, forgery, unorganised delay in transfer, bad delivery, loss in transit and mutilation of the certificates.
