Depository Beneficiary Account is popularly known as Demat Account. Demat Account is like an electronic locker to keep securities in electronic (dematerialised) form.
Securities like Bonds, Debentures, Equity Shares, Preference Shares or any securities having ISIN can be held in Demat Account. Securities having ISIN can be held in Demat Account even when they are not listed on any Stock Exchange. Client opting for equity segment (cash market) in Trading Account are mandatorily need to have Demat Account. Demat Account is to be open with Depository Participant (DP) of either CDSL or NSDL.
ProStocks is Depository Participant of CDSL and can open your Demat Account. Your Stock Broker can also be your DP. All Stock Broker are not DP.