A senior bank official said "This service will be introduced in metro branches and will then be implemented in other branches as well. Branches located in residential areas, have also been identified for demat. There will be a hub created for demat."

"The Bank felt the need to offer this service, as demat has become a compulsory mode for many scrips and also to prevent security hazards," the senior official said.

He further added "the retail customer needs to be given all services and not partial services. This is a value-addition to the customers and the bank on the other hand, will be able to cross sell their products."