New Delhi, Oct. 28 -- If you've ever thought about buying your first share, you've probably met the phrase "demat account" within five minutes of searching. It sounds technical, like something that needs a finance degree. It doesn't. It's simpler than it sounds, and without one, you can't really invest online at all.

It's like an online investment safe deposit box. A "dematerialised account" is a term which is a short version of "electronic account" and contains your shares, mutual funds, bonds and ETFs without a certificate. A buyout of a stock via your broker will be reflected here. No paper lost and no courier or certificate that you forgot you had in a drawer.

That's a change that is more significant than it sounds. In 1996, the con...