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SBI Securities Account: If you are an SBI employee or any member of your family works in the largest public sector bank, then this news is useful for you. Yes, SBI has given a big order to its lakhs of employees. According to this, the bank has asked the employees and their family members to open a Demat Account with SBI Securities to buy and sell shares.
SBI has more than 2.3 lakh employees across the country
According to this directive, if an employee wants to open a demat account with another company, he will have to get approval from the senior manager for this. This has been said in the letter sent to all the employees by the Deputy Managing Director of SBI. SBI is the largest bank with more than 230,000 employees in 22,500 branches spread across the country.
Apart from
this SBI is also the largest estate manager in the country's mutual fund industry. In the letter issued by SBI, it was also said that the employees will have to submit the information related to their and dependent family members' demat or trading accounts to their respective controllers every quarter for verification.

What will happen to the already existing account?
As per the order given by SBI, if the employees already have a demat account, then they will have to close it. The bank has given six months to the employees to do this. For this, the employees will have to take permission from the senior officers of the bank.

SBI says that the bank wants to create a system through which it can keep an eye on the share market transactions of its employees. Therefore, this instruction has been given to the employees by the bank. Let us tell you that SBI provides the
facility of buying and selling shares and demat accounts through its own other company, SBI Securities. This order has been given by the bank because some employees had opened demat accounts in companies other than SBI Group.