Aadhaar Link With Demat Account: Capital markets regulator Securities and Exchange Board of India (Sebi) has mandated investors using the trading platform to link their Aadhaar number with their respective Demat account.
Aadhaar Link With Demat Account: Capital markets regulator Securities and Exchange Board of India (Sebi) has mandated investors using the trading platform to link their Aadhaar number with their respective Demat account. Following the same, the National Securities Depository Limited (NSDL) has made provisions to link the Aadhaar number with the Demat account.
AADHAAR NUMBER AND DEMAT ACCOUNT LINKING: GUIDE, STEP BY STEP
Step 1: Go to the NSDL website’s official page. Choose the “Connect Aadhaar with Demat Account” tab from the home page.
Step 2: After the connection process is complete, click the “Get Started” option on the new website.
Step 3: Type in the client ID, PAN number, Demat account number, and name of the account holder.
Step 4: Type in the validation code and press “Proceed”.
Step 5: One Time Password (OTP) will be provided to the registered email address or mobile number.
Step 6: A confirmation page will show the Demat details. If the data shown is accurate, continue with the connection process.
Step 7: Once the successful verification and authentication of the information is done, it will result in the linking of the Aadhaar with the Demat account.
DOCUMENTS REQUIRED WHILE LINKING AADHAAR NUMBER WITH DEMAT ACCOUNT
- Aadhaar card
- Depository participant (DP) name, DP ID, PAN, and other related details
- Keep the registered mobile number handy
ADVANTAGES OF LINKING AADHAAR NUMBER TO DEMAT ACCOUNT
With the use of all validated information from the Aadhaar card, e-KYC approval will be simple.
Transparency in the investing process will help to thwart fraud.
Concerning account deactivation, there is no need.
Without any tiresome documentation, trading futures and options is easier.
Besides, Sebi has made it mandatory for all Demat and trading account holders to have a nominee and the last date to add a nomination is March 31, 2023. The Demat account will be frozen if investors fail to meet the deadline.