In India, linking the Aadhaar card with various financial accounts, including a Demat account, has become mandatory. The Securities and Exchange Board of India (SEBI) has made it compulsory for investors to link their Aadhaar
In India, linking the Aadhaar card with various financial accounts, including a Demat account, has become mandatory. The Securities and Exchange Board of India (SEBI) has made it compulsory for investors to link their Aadhaar card with their Demat account to prevent fraudulent activities and protect investors’ interests. This article provides a step-by-step guide on how to link your Aadhaar card with your Demat account.
Step 1: Choose the Appropriate Depository Participant (DP)
The first step is to choose a Depository Participant (DP) who holds your Demat account. A DP is an intermediary between the depository and investors, and they maintain and execute the Demat account. There are two depositories in India – National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). Choose the appropriate DP depending on where your Demat account is held. Check more on What is demat account?
Step 2: Download the Aadhaar Linking Form
Once you have identified your DP, you need to download the Aadhaar linking form from the respective DP’s website. The form will be available in PDF format, and you can download it on your computer or mobile.
Step 3: Fill in the Form
After downloading the Aadhaar linking form, you need to fill in the necessary details. These details include your name, Demat account number, Aadhaar number, and contact details, among others. Ensure that you fill in the form correctly and accurately to avoid any errors. Check more on What is a demat account?
Step 4: Attach a Self-Attested Copy of Your Aadhaar Card
After filling in the form, you need to attach a self-attested copy of your Aadhaar card to the form. Ensure that the copy is legible, and all details are visible.
Step 5: Submit the Form to Your DP
Once you have completed the form and attached a self-attested copy of your Aadhaar card, you need to submit the form to your DP. You can submit the form in person or by courier, depending on the DP’s guidelines. It is advisable to keep a copy of the form as proof of submission. Check more on What is a demat account?
Step 6: Verification Process
After submitting the form, the DP will initiate the verification process. The verification process involves matching the details mentioned in the form with the details available in the Aadhaar database. Once the verification process is complete, your Aadhaar card will be linked to your Demat account.
Step 7: Confirmation
After the verification process is complete, the DP will send a confirmation message to your registered email or mobile number. The confirmation message will contain details such as the date of linking, the confirmation number, and the status of the linking process. This message is an important document that confirms that your Aadhaar card has been successfully linked with your Demat account.
Wrapping up
In conclusion, linking your Aadhaar card with your Demat account is a crucial step towards protecting your investments and preventing fraudulent activities. The process is straightforward and can be completed by following the above-mentioned steps. Ensure that you choose a reliable DP, fill in the form accurately, and submit the form with a self-attested copy of your Aadhaar card.