Which of the following does not aptly describe Demat Account in India?

It refers to a dematerialized account for individual Indian citizens to trade In listed stocks or debentures in paper form

It is required for investors by the Securities and Exchange Board of India (SEBI)

In a Demat account, shares and securities are held electronically

This account is opened by the Investor while registering with an investment broker (or sub-broker)

Access to the Demat account requires an internet password and a transaction password