If you have opened a demat account or are a demat account holder, you can easily link it with Aadhaar online from home. Linking demat with Aadhaar has its own benefits.
According to SBI Securities, today the market regulator SEBI has also made it mandatory to link the demat account with Aadhaar. If the demat account remains unlinked, the broker will have to compulsorily freeze that demat account and not allow any transaction until the linking is complete.
Keep these documents ready before the linking process
Before starting the online process to link Aadhaar number to Demat, keep your Aadhaar card, PAN card, Demat account number (DP ID and Client ID), registered mobile number, access to registered email, etc. ready. If you have all these, you can complete this process in 10 minutes.
Link online like this
- First of all visit the website of the depository, NSDL ( www.nsdl.co.in ) or CDSL ( www.cdslindia.com )
- After reaching the web portal, you have to click on the link given to link your Aadhaar number to the Demat account
- On clicking the link, you will have to fill the details like DP Name, DP ID, Client ID and Income Tax PAN to proceed to the next step.
- After filling the details, you will receive a One-Time Password (OTP) on your registered mobile number and your registered email ID.
- Enter the OTP in the space provided on the website to proceed to the next step.
- Once you enter the OTP, you will be allowed to view your online demat account details. Here, you can see information like name, age, address, mobile number, linked bank account, email ID, etc. You need to verify and confirm the details.
- In the next step you have to enter the Aadhaar number, gender and date of birth. Once you check the details specifically and then click on Proceed, you can move to the next step.
- Once you fill in the details, you will enter the OTP on the mobile number linked to your Aadhaar number. This OTP comes from UIDAI. Now you have to enter the OTP and click on submit.
- You will receive an SMS and email notification confirming that your Aadhaar number has been linked to your demat account. This happens in real-time unless there is a discrepancy, in which case you may have to resolve it offline.
Benefits of linking the two
This increases the security of the demat account and reduces the chances of fraud or hacking. Also, if your demat account is already linked with Aadhaar, it becomes very easy to complete KYC (Know Your Customer) on a recurring basis. Also, it brings all your transactions of banks, mutual funds, shares etc. under the purview of Aadhaar, giving you a comprehensive view.
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