How to link Aadhaar with your Demat account?
SEBI has made it compulsory for all brokers/brokerage firms to link Aadhaar with the Demat Account of investors using their trading platforms. Following this, National Securities Depositories Ltd (NSDL) made provisions for the online linking of Aadhaar with the Demat Account of all investors.
Steps to link Aadhaar Number with your Demat Account
- Step 1 – Visit NSDL’s web portal
- Step 2 – Select link Aadhaar to demat account option
- Step 3 – Submit name, ID of depository participant and PAN details
- Step 4 – Enter the OTP
- Step 5 – Enter 12-digit Aadhaar number and date of birth
- Step 6 – Enter the second OTP
- Step 7 – Receive an SMS and email confirmation
The process of online linking is hassle-free and does not require cumbersome paperwork.
- Aadhaar is a 12-digit individual identification number issued by the Unique Identification Authority of India (UIDAI), a union government body that serves as an identity and address proof across the country.
- Demat account is a dematerialized account, where the physical shares are kept in an electronic format. You cannot trade in stock markets without having a Demat Account.
Documents you need to keep handy while online linking
- Aadhaar number.
- PAN Card details.
- Demat Account number; both client ID and Depository Participant’s (DP’s) ID.
- Access to your phone for the OTP.
Benefits of Linking Aadhaar with Demat Account:
- It reduces the stress of submitting documentation for Futures and Options Trading.
- Quick and easy eKYC approvals as all details are authenticated using your Aadhaar card.
- Investors will easily be able to switch the brokerage firm as per their preferences after Aadhaar seeding.
- Enables easy monitoring for the regulators and aids in the prevention of frauds.
- There will be more transparency in the investments done.
- Demat accounts which are not linked to Aadhaar cards could face possible deactivation.
How to know if your Aadhaar has been linked with your Demat Account?
You can quickly check if your Aadhaar has been successfully linked with your Demat account by following the below-mentioned steps:
- Visit the UIDAI website
- Click on Check Aadhaar Linked account
- Enter your 12-digit Aadhaar number
- You will receive an OTP on your mobile, enter that in the OTP field
- You will be able to see all accounts including your Demat account linked to your Aadhaar
How to Link Your Aadhaar Number with Demat Account
SEBI has made it compulsory for all brokers/brokerage firms to link Aadhaar with the Demat Account of investors using their trading platforms. Following this, National Securities Depositories Ltd (NSDL) made provisions for the online linking of Aadhaar with the Demat Account of all investors.
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Frequently Asked Questions
SEBI has made it mandatory for brokers to use Aadhaar-based e-KYC (Know Your Customer) authentication for account opening and for existing account holders to link their Aadhaar with Demat accounts. NSDL has also made adequate provisions to link UIDAI with Demat account of investors online. Your Aadhaar Card has a unique 12 digit id that recognizes your identity and address, and thus linking with demat account with Aadhaar protects against identity thefts and cases of money laundering and tax deception. Thus, it is secure, fast and hassle free to open your Demat account with the help of Aadhar.
You can conveniently link Aadhar with Demat Account by visiting NSDL Website. On home page you will see ‘Link Aadhaar with Demat Account.’ Click on ‘Get Started’ tab and share customer ID, PAN number, Demat account number, Name and so on. Click ‘Proceed’ after sharing the Verification Code. Your Demat information will be shown on the screen. Check the details and if correct, continue with the connection process. The Aadhar will be linked to the Demat account after verification and authentication is completed in this step.
To check your Demat account details, you simply need to visit your broker’s or depository participant’s (DP) website or app. Log in using your username and password and click on “My Account.” Select “Demat Account” from the list of accounts. Here you can check all the details related to your Demat account: name, account number, DP ID, and list of the securities held in the account. Here, you will also be able to see your transaction history, including securities bought or sold, date of the transaction, and the balance in the account. You can also download your Demat account statement, which has a summary of your transactions. In case you are unable to get the details on the broker’s app, contact their customer care team for assistance.
Yes, Aadhar is a recognized document to open a demat account. However you will also require a valid PAN Card along. You can submit Aadhaar card as a proof of identity and address. Also, your mobile number should be linked to Aadhar for opening a demat account. Opening a Demat account with Aadhaar-based e-KYC is hassle free and convenient. You can open a demat account online on a chosen broker’s website or app.
It is mandatory to link Aadhaar card with mobile number to open a Demat account. SEBI has made it mandatory for brokers to use Aadhaar-based e-KYC (Know Your Customer) authentication for account opening. If your Aadhaar is not linked with a mobile number, you are required to link it on priority. The same can be completed by visiting either an Aadhaar enrollment center or mobile service provider’s store. Once your UIDAI is linked with mobile, you can open a Demat account by submitting the required documents and complete the e-KYC process through broker’s website or mobile app.