AADHAR is now mandatory for new Demat and trading accounts

From now on, we shall be making collection of Aadhaar mandatory for all new clients, i.e. including Online, Offline and Non individuals (including corporate accounts, partnerships etc.). The Aadhaar scan shall be attested and collected as an additional attachment.

Things to remember:

1) For all offline accounts, along with Aadhaar number having to be filled, an attested scanned copy of the Aadhaar shall also be required mandatorily.

In case a client has not received his Aadhaar yet, a scanned copy of the Aadhaar enrollment form will also work as a substitute for Aadhaar.

2) For all Corporate accounts, the Aadhaar of the Authorized Person as per the Board Resolution shall be mandatorily collected. This person may be a Manager/Director or any person as authorized by the Company in the Board Resolution.

3) For all Partnerships/Trusts/Body of Individuals, the Aadhaar of the Authorized Person as per the Letter of Authority in the letterhead of the firm shall be mandatorily collected.

4) For HUFs, the Aadhaar of the Karta shall be mandatorily collected.

5. Residents from J&K, Assam, and Meghalaya are exempt AADHAR cards.

6. NRI clients also don’t need to provide AADHAR.

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