NIC Asia Capital launches lifetime demat account renewal scheme at Rs 999

KATHMANDU: NIC Asia Capital has launched a scheme with the motto 'Pay one time forget for lifetime'. Under the scheme, customers can use their DEMAT account for a lifetime on a lump sum payment of Rs 999. At present in the country, an account holder who opens a DEMAT account has to pay a renewal fee of Rs 100 every year and in case the renewal fee is not paid, the DEMAT account of the respective account holder is frozen and if the shares sold are not cleared within the specified time has to pay thousands in fines. NIC Asia Capital has launched this scheme to provide lifetime DEMAT account renewal service to its customers at a low fee. As the Securities Board of Nepal (SEBON) has implemented the ‘Securities Issuance and Allotment (Sixth Amendment) Guideline, 2079’ with the aim of allowing Nepalis employed in foreign countries to enter the share market. With the new arrangements, Nepali migrants can invest in initial public offerings (IPOs). Likewise, before the initial issue to the general public, any company or organisation has to allocate 10% of the shares to be issued to the general public for Nepali migrant workers. With the implementation of new arrangements, the lifetime DEMAT account renewal scheme of NIC Asia Capital is expected to help Nepali migrant workers and others who want to go abroad for foreign employment in opening a DEMAT account at a low fee without hassle. Those who have already opened DEMAT accounts from any branch office of NIC Asia Capital and NIC Bank and have not yet paid the renewal fee, and others who want to open new accounts can also take part in the scheme that will be operational until further notice. READ ALSO:

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