Can Hindu gods invest in the stock market?

Posted By Joshua Keating Tuesday, July 13, 2010 - 9:56 AM Share

A court case in India might could give a whole new meaning to the phrase "masters of the universe": 

Can Hindu deities have demat accounts to enable them transact in shares and debentures on the stock market?

The Bombay High Court will decide the issue after a religious trust filed a petition challenging the decision of National Securities Depository Ltd (NSDL) to refuse it permission for opening demat accounts in the names of five Hindu deities.

The deities of the Sangli-based trust "Ganpati Panchayatam Sansthan" are Lord Ganesh, Chintamaneshwardev, Chintamaneshwaridevi, Suryanarayandev and Laxminarayandev. The trust, belonging to the Patwardhan family, the erstwhile royals of Sangli, had obtained PAN cards in the names of deities in 2008. 

In Inida, a "demat account" is one in which shares are held in electronic form rather than in certificates, which seems appropriate for metaphysical beings. If Lord Ganesh and co. do win their case, I know the perfect banker for them. 

Hat tip: Marginal Revolution

EXPLORE:FINANCE, INDIA, RELIGION
 

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6:13 AM ET

August 12, 2010

Investment Strategy

Investment is the professional management of various shares, bonds and other securities and asset to meet specified investment goals for the benefit of the investors. Investors may be institutions (insurance companies, pension funds, corporations etc.) or private investors (both directly via investment contracts and more commonly mutual fund or exchange trader fund.
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