new Delhi. Demat Account KYC Update: Those investing or trading in the stock market will have to update their KYC within this month. If this is not done then neither the demat account will be closed. So to avoid any kind of trouble, get your demat account KYC done as soon as possible. The last date for this is 31 March 2022.
The Bombay Stock Exchange (BSE) had issued an advisory regarding KYC almost a month ago. According to this advisory uploaded on the BSE website, the deadline for updating KYC in demat account is till March 31, 2022. With this, an appeal was made to the investors of the stock market to get their demat account KYC done before the deadline is over. If this is not done, then after March 31, 2022, demat accounts without KYC will be closed.
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What information needs to be given?
To get KYC done, demat account holders will have to share 6 important information. These include your name, PAN card number, address, mobile number, email ID and income range. Those investors, who are using custodian services, are also required to provide custodian details. If all these information is not updated by the deadline, then the exchange trade account of the investor will also be suspended.
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How to do KYC
Investors can approach the stockbroker for KYC updation of Demat account. They can also get KYC updated through Depository Participant. Investors have been advised to strictly follow the guidelines of depositories and exchanges.
Tags: Share market, Trading
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