How to open a demat account

How to open a demat account
4th August,2009 Aditya Bikram Singh




To open a Demat account, you must contact a DP of your choice some are-ICICI securities, Kotak securities, Reliance money, Religare, Karvy, India bulls etc.
And then collect the relevant forms. The forms must be duly filled and signed by all the account holders.
The nomination facility is also available.
The documents that must be provide with the form areas follows:
• Proof of identity (POI) copy of any one proof
-passport
voter id card
Driving license
Pan card with photograph
Identity card/document with applicant’s photo issued by
central government and its departments
Statutory /regulatory authorities
Public sector undertaking
scheduled commercial bank
Public financial Institution
Colleges affiliated to universities (this can be treated as valid only till the time
The applicant as a student)
Professional bodies such as ICAI, ICWAI, ICSI, bar council etc
• Proof of address (POA) copy of any one proof.
Ration card
Passport
Voter ID card
Driving License
Bank Passbook
Verifying telephone bill/electric bill (not more than two month old)
• Copy of PAN card is mandatory

There are no restrictions on the number of DP account to be opened by an individual.
Once the account is opened, the depository issues a unique 8-digit number if through NSDL. This number is called client ID number or the beneficiary account number or De-Mat account number.
The DP ID starts with in followed by 6 digits.
For CDSL account holders, they are issued 16-digit beneficiary account number. This number is unique for every investor registered with CDSL.

Fake INR Notes in Automated Teller Machine(ATM).

Fake INR Notes in ATM
22nd July,2009 Aditya Bikram Singh



On 20th July, it is reported by a person of Nellore in Andhra Pradesh that he has received fake notes from the SBI ATM. There are reports from some of the other places also. The RBI has issued the following guide lines in this respect to the all banks.Reserve Bank of India (RBI) has reported that few instances of counterfeit currency being dispensed through ATMs has come to their notice.

To protect customers and depositors interest, various steps have been taken by Government/ RBI, which include, issue of directions/guidelines to banks as follows.

(i) To disburse only sorted and genuine notes over their counters and through ATMs.

(ii) Note Sorting Machines to be installed at all the currency chest maintaining branches and 210 non chest branches to enable banks to detect counterfeit notes at the entry level.

(iii) To establish Forged Note Verification Cells at the Head Offices of the Banks to take effective steps to deal with counterfeiting.

(iv) To impound the counterfeit notes and lodge FIR with Police Authorities.

Further, the Reserve Bank of India has also been conducting training programs for employees/ officers of banks and other organizations handling large amount of cash. RBI has also been popularizing the security features of the bank notes through its website, posters displayed at branches of the bank etc. A film depicting the security features of a genuine note has also been released in theatres besides being exhibited by Regional Offices of RBI at various exhibitions, bus stations/railway stations etc.

This information was given by Minister of State for Finance, Shri Namo Narain Meena in written reply to a question raised in Rajya Sabha.


*This article is a work of Mr. Rao in the section Knowledge Sharing.