Skip to main content

Your Demat, Trading Accounts Will be Deactivated if KYC Not Updated by July 31 | Details Here

KYC Update Alert: If you have a demat or trading account, then you need to ensure that all your KYC details including income range, mobile number, email ID are updates in the account by July 31 otherwise, your account will be de-activated from the same day. To make thing done before time, many stock broking firms/Depository participants have been emailing letters to their clients — demat/trading account holders — to update their KYC details before the expiry of the deadline to avoid deactivation of their demat/trading accounts.

As per a notification issued by the Central Depository Services Ltd (CDSL) on April 5, 2021 and National Securities Depository Limited (NDSL) on April 7, 2021, certain KYC attributes must be updated mandatorily before July 31, 2021. These include:

  1. Name
  2. Address
  3. PAN
  4. Valid mobile number
  5. Valid email ID
  6. Income range

However, if the account holders have not updated their account, then their demat account will be deactivated by the depository and will not be activated till you update these details.

It must be noted that the six KYC attributes have been made mandatory for new accounts opened from June 1, 2021. For all existing accounts, depositories had been asked by market regulator SEBI to verify that all six KYC attributes are updated and, wherever required, necessary communication is sent to their clients to update the same on or before May 31, 2021.

According to the mails and notifications sent by the Stockholding Corporation to their clients, if KYC details with regards to PAN is to be updated, then one should ensure that their PAN is linked with Aadhaar in the income tax database. Similar emails have been sent to their clients by ICICI Bank Demat Services.

Regarding income range, account holders have been asked to choose and specify as to which income range their income falls in from a list given in the email. The list of income ranges from which account holders have to choose, as per the email, are:

For individuals (annual):

  1. Below Rs 1 lakh
  2. Rs 1 lakh – Rs 5 lakh
  3. Rs 5 lakh to Rs 10 lakh
  4. Rs 10 lakh to Rs 25 lakh
  5. More than Rs 25 lakh

For non-individuals (annual):

  1. Rs 20 lakh
  2. Rs 20 lakh to Rs 50 lakh
  3. Rs 50 lakh to Rs 1 crore
  4. More than Rs 1 crore


source https://www.india.com/business/your-demat-trading-accounts-will-be-deactivated-if-kyc-not-updated-by-july-31-details-here-4853776/

Comments

Popular posts from this blog

Delhi-NCR Rains LIVE Updates: Thunderstorm With Moderate to Heavy Rains Likely in Delhi, Gurugram, Faridabad and Adjoining Areas

Delhi-NCR Rains: The national capital and its neighbouring areas are likely to witness thunderstorms with moderate to heavy intensity rains during the next two hours on Wednesday, as per the predictions notified by the Indian Meteorological Department (IMD). The downpour will occur over and adjoining areas of Delhi-NCR. Taking to Twitter, the Met department said, “Thunderstorm with moderate to heavy intensity rain would occur over and adjoining areas of isolated places of Delhi (Lodi road, IGI airport ), NCR (Gurugram, Manesar, Faridabad, Ballabhgarh) Tosham, Bhiwani, Charkhi Dadri, Mattanhail, Jhajjar, Narnaul, Mahendargarh, Kosali, Farukhnagar, Bawal, Nuh, Sohana, Hodal, Palwal (Haryana) Barsana, Nandgaon (UP) Viratnagar, Kotputli, Khairthal, Bhiwari, Laxmangarh, Nadbai, Nagar, Alwar, Tizara, Deeg (Rajasthan) during next 2 hours,” tweeted IMD. Earlier on Tuesday, heavy rains lashed several parts of Delhi causing waterlogging and affecting the vehicular movement in parts of the city ...

PM Kisan Samman Nidhi Yojana: Farmers Likely To get Rs 4000 in 10th installment, Must Submit Documents by Oct 31

PM Kisan Samman Nidhi Yojana Latest News Today : Here comes a piece of wonderful news for the farmers across the country. They will soon get Rs 4000 in the 10th installment of Pradhan Mantri Kisan Samman Nidhi Yojana, media reports have claimed. However, the Central government has not made any announcement on this yet. To take advantage of this, you have to register (PM KISAN Registration) under PM Kisan Samman Nidhi. For this purpose, they need to submit all the necessary documents by 31 October. It must be noted that the Central government has recently made some changes in the process of registration for PM Kisan Samman Nidhi Yojana. Under this, now ration card has been made mandatory for registration in in PM Kisan Samman Nidhi Yojana. Farmers will have to mandatorily submit ration card number in new registration. At the same time, they have to upload the soft copies of documents (in PDF format) on the portal during registration. If the farmers register themselves before October ...

MP: Woman Forced To Undergo ‘Purification’ For Marrying Dalit Man

Betul: A 24-year-old woman from Madhya Pradesh’s Betul district was allegedly forced to undergo a “purification” ritual by her father and other relatives wherein she was forced to take bath in the Narmada river, her hair trimmed and her clothes discarded for marrying a Dalit man, police said on Saturday. Police have registered a case against the woman’s father and three of his relatives on Saturday after the woman lodged a complaint, said Betul Kotwali police station in-charge Ratnakar Hingve. On Friday, the woman submitted a complaint to Superintendent of Police (SP) Simala Prasad. The complainant alleged that she had married a Dalit man in March 2020. She said her family members filed a missing person complaint in January 2021, though her father knew about her whereabouts and used to meet her. “I got married on March 11, 2020, and informed my father on January 4, 2021. My father continued to meet me but despite that, he filed a missing person complaint on January 10, 2021, at Chop...