When it comes to linking your Aadhaar number with your Demat, it happens to be a crucial step in ensuring regulatory compliance in India. The Securities and Exchange Board of India (SEBI) has made it mandatory for investors to link their Aadhaar numbers with their demat accounts. In this article, you will find a complete guide on how to link your Aadhaar account with a Demat account easily.
Why You Should Link Aadhaar With Your Demat Account:
Linking your Aadhaar number with your Demat account offers various benefits including:
Regulatory Compliance: As per SEBI requirements, linking your Aadhaar account with your Demat account is required to comply with regulatory requirements. It helps authorities monitor investments and prevent fraud. Reach more on how to create demat account.
Simplified Transactions: Aadhaar linkage simplifies the transaction process by providing unique identification, thereby facilitating the purchase and sale of securities.
Identity Verification: Ensures that you are the rightful owner of the demat account and adds an additional layer of security to your investments.
Prevents Unauthorized Access: Aadhaar enrollment minimizes the risk of unauthorized access and misuse of your demat account.
How to Link Aadhaar to Demat Account?
Linking Aadhaar number with Demat account is easy and can be done in various ways:
- About your Depository Member (DP):
Contact your DP: Contact your participating custodian, which is usually the bank or brokerage firm where you have your demat account. Reach more on how to create demat account?
Send Aadhaar Copy: Provide a photocopy of your Aadhaar card and a self-attested copy to your DP. You need the original to check.
Filling Aadhaar Linkage Form: Your DP will provide you with an Aadhaar linkage form to fill.
In-Person Verification: You may be required to undergo an in-person examination at your PD’s office.
Verification Process: After submitting the documents, your DP will initiate the Aadhaar verification process. Reach more on how to create demat account?
Confirmation: After successful verification, you will receive a confirmation message.
About Demat Account Service Providers:
Visit Website: Log in to your demat account service provider’s website e.g. B. National Securities Depository Limited (NSDL) or Central Depository Services (India) Limited (CDSL).
Search for Aadhaar Linking Option: Search for “Aadhaar Linking” or “Sow Aadhaar” option on the website. Reach more on how to create demat account?
Enter Details: Enter your Demat account details and Aadhaar number as required.
Authorization: Authorize the call by entering the one-time password (OTP) sent to the registered mobile number. Reach more on how to create demat account?
Confirmation: After successful verification, you will receive a confirmation message.
- Via offline download:
Go to the DP Office: You may go in person to your Custodial Partner’s office and follow the procedures described in the “About the Custodian Partner” section.
- Via SMS:
Send SMS: Some demat service providers provide facility to connect Aadhaar via SMS. You can send a specific SMS with the requested data to the specified number. Reach more on how to create demat account?
- Via mobile application:
Download App: If your demat service provider offers a mobile app, you can download the app and use the Aadhaar linking feature to complete the process. Reach more on how to create demat account?
