Cooperative housing societies and demat account

Jasmeena Sanghani (Querist) 15 August 2021 This query is : Resolved
Can a account be opened for a cooperative society ? If Yes, what are the documents required?

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Cooperative housing societies can open bank accounts, but the specific type of account and society needs to be clarified. However, these societies are restricted from trading in stocks and shares on the stock exchange. Their investment options are limited to bank fixed deposits.

Dr J C Vashista (Expert) 16 August 2021
Which account do you want to open in the name of cooperative society and what is the type of cooperative society such as housing, banking, thrift and saving?
However, no cooperative society whatever type) can deal with stocks and shares in Stock exchange.

SHIRISH PAWAR, 7738990900 (Expert) 16 August 2021
Hello,

Yes, cooperative housing society cannot make investments in shares or stocks. They can only invest in bank fixed deposits.

P. Venu (Expert) 16 August 2021
What is the context for this query?

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