<b>Debashis Basu:</b> What happened to FM's single demat?

Consumers will thank the Modi govt for this simple yet revolutionary move, which is long overdue

It is bad enough that a financial consumer today is targeted from all sides to buy more than two dozen products, many of which are either useless or harmful. Having bought various financial products, they have a big problem of ensuring their safe custody (if these are in a physical form), setting up alerts to pay the premium, renew the fixed deposits and so on. It is obvious that with huge advances in computing, mobile telephony, security of databases and an explosion in safe online transactions, it is easy to create a single electronic custody for every individual customer. Such