Rights and Obligations of Beneficial Owner & DP as prescribed by SEBI and Depositories
R & O of BO & DP as prescribed by SEBI & Depositories —
SEBI circular on 'Cyber Security and Cyber Resilience framework for Stock Brokers/Depository Participants —
6 KYC attributes shall be mandatory for all new demat accounts opened with effect from August 01, 2021
As per the guidelines issued by depositories (NSDL/CDSL), the following 6-KYC attributes are mandatory for existing demat account w.e.f from 01st July 2022.
c. Valid PAN (PAN seeded with AADHAAR)
d. Valid mobile number
e. Valid email-id
f. Income range
Thereafter, the non-compliant demat accounts will be made inactive and restrictions will be imposed on transactions w.e.f 01st July 2022
In case PAN is not seeded with AADHAAR before the date specified by the Government, it will not be considered as a valid PAN for demat account opening. Also, those demat accounts which are not having valid PAN will be classified as non-compliant and will be inoperative w.e.f 1st July 2022. If the same mobile number / email ID is captured in more than 1 demat account in any of the Depository (NSDL/CDSL) and family flag is also not updated, those accounts will be classified as non-compliant and treated as inactive.
Kindly visit your branch for updating the KYC attributes mentioned above in the demat account
Advisory – KYC Compliance
- All investors are requested to take note that 6 KYC attributes i.e. Name, PAN, Address, Mobile Number, Email id and Income Range have been made mandatory. Investors availing custodian services will be additionally required to update the custodian details.
- Investors may contact their respective stockbrokers / depository participants for updation of details in their trading / demat account.
- The last date to update KYC is June 30, 2022.
- Thereafter non-compliant trading accounts will be blocked for trading by the Exchange.
- The non-compliant demat accounts will be frozen for debits by Depository Participant or Depository.
- On submission of the necessary information to the stockbroker and updation of the same by the stockbroker in the Exchange systems and approval by the Exchange, the blocked trading accounts shall be unblocked by the Exchange on T+1 trading day.
- The demat account shall be unfreezed once the investor submits the deficient KYC details and the same is captured by the depository participant in the depository system.
- To ensure smooth settlement, investors are requested to ensure that both the trading and demat accounts are compliant with respect to the KYC requirement.
- Investors are hereby requested to comply with the regulatory guidelines issued by Exchanges and Depositories from time to time with regard to KYC compliance and related requirements.
Federal Bank offers Depository Services to its clients through 183 designated branches to cater to their demat requirements through NSDL. We also provide the Speed-e facility to demat account holders to submit their delivery instructions through Internet. We also provide IDEAS facility for viewing the statement of transactions for last one month.
Address of Depository Services Division
Depository Services Division
III Floor, Parackal Towers,
Parur Junction, Thottakkattukara,
UC College P O, Aluva, Kerala – 683102
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