Read Aloud the Text Content

This audio was created by Woord's Text to Speech service by content creators from all around the world.

Text Content or SSML code:

What are the Documents Required for KYC.... Ever since the Reserve Bank of India (RBI) has issued the Know Your Customer (KYC) guidelines in 2002, The Securities and Exchange Board of India (SEBI), the regulatory body for stock trading in India has adopted it and made KYC norms mandatory for all the investment related activities such as opening a demat account, opening a trading account, mutual fund investment, etc. KYC full form (Know Your Customer and sometimes Know Your Client) KYC norms were introduced by the RBI to reduce corruption in equity trading. With KYC coming into effect, it has become easier for the government, banks and other financial institutions to track your financial transactions. It facilitates authorities to track the incoming and outgoing funds in and out of your account. Since KYC has been made mandatory for demat account opening by SEBI, you are required to provide complete KYC documentation for opening a demat account. When you submit your documents for the KYC process, your data gets stored in the comprehensive central database which can be easily accessed by the authorities with the help of your linked PAN. KYC helps the brokers and depository participants to verify the credentials of a person willing to open a demat account to begin trading and investing. Furthermore, the KYC process ensures that the investor’s investment and earnings through a trading and demat account are traceable through proper banking channels. It helps to curtail any kind of fraudulent activity or transaction in the trading process thus ensuring a safe trading experience. Documents Required to Fulfill KYC Norms for Demat Account Opening. For opening a demat account, you need to submit the below-mentioned documents to fulfill the KYC norms: · Proof of identity (PAN card along with photograph / Aadhaar card / passport / voter’s identity card / driving license / · Proof of address (PAN card along with photograph / voter’s identity card / driving license / passport / ration card / utility bills like telephone bill, gas bill, electricity bill, etc. not more than three months old / bank account statement or passbook / sale agreement of residence or registered lease · Bank account number along with a cancelled cheque · PAN card Expedite KYC with Aadhaar based e-KYC. With Aadhaar based e-KYC, you can quickly and easily open a demat account and trading account in just a few minutes. The process is completely online and paperless. It uses a biometric Aadhaar card or mobile linkage with OTP authentication to verify your identity. It eliminates the need for tedious in-person verification. To sum up. In order to activate your demat account, you need to fill out the KYC form and complete the KYC procedure. KYC compliance ensures a safe trading atmosphere and eliminates negative elements from the process, making it a reliable platform for genuine traders and investors. Start trading by opening a free demat account with Indira Securities.