BANKING AFFAIRS

Detailed explanation-1: -For all the accounts, investor has to strictly comply with KYC norms including Proof of Identity, Proof of Address requirements as stipulated by SEBI and also provide PAN number. The investor has to show the original PAN card at the time of opening of demat account.

Detailed explanation-2: -In India, demat accounts are maintained by two depository organizations: the National Securities Depository Limited and the Central Depository Services Limited. A depository participant (DP), such as a bank, acts as an intermediary between the investor and the depository.

Detailed explanation-3: -SEBI guidelines for Opening a Demat account It is possible to open more than one account in the same name with the same broker/DP or with a separate one. However, one has to fulfill all the KYC norms. This includes proof of identity and address proof, PAN and more, as stipulated by SEBI.

Detailed explanation-4: -The Securities and Exchange Board of India (SEBI) requires everyone who wants to trade Indian securities to have a demat account. That means demat accounts are absolutely mandatory, and a person without a demat account is not allowed to conduct securities trading in India under any circumstances.

Detailed explanation-5: -A few depository participants cum stock brokers like Motilal Oswal are registered with both NSDL and CDSL. According to the data from the Securities and Exchange Board of India (SEBI), there are as many as 281 depository participants registered with NSDL as on December 06, 2021.