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Investors with a demat account must take note of an important deadline. If you fail to comply with certain requirements by March 31, 2023, your account will become inactive.
According to regulations set forth by the Securities and Exchange Board of India (SEBI), investors with a demat account must complete the Know Your Customer (KYC) process before the deadline. This process includes updating personal details, such as your address and contact information, and submitting relevant documents, such as your PAN card and Aadhaar card.
If you have not completed the KYC process by the deadline, your demat account will be deemed inactive. This means you will not be able to trade, transfer, or sell any of the securities held in your account until you reactivate it.
To reactivate an inactive account, you will need to complete the KYC process and submit relevant documents to your depository participant (DP). Your DP will then verify the documents and reactivate your account.
It is important to note that while your account is inactive, you will not be charged any maintenance or annual fees. However, you will also not be able to access your securities, which could result in missed investment opportunities or financial losses.
Investors are advised to complete the KYC process as soon as possible to avoid any disruptions to their trading or investment activities. You can check the status of your KYC compliance by logging into your demat account or contacting your DP.