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Mahima Roy made post

Is it possible to open my demat entirely online?

Answer
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Purvesh answered.
2 years ago


Yes, its possible in the current digital world. Many trading securities like IIFL, HDFC, 5paisa etc are doing such activities. In India, AADHAR number which must also be linked with Mobile number/email id can be used to open a Trading & Demat account using E-KYC facility. Here trading securities will also require soft copies PANCARD, Canceled cheque etc.
A cross verification is also being done by the trading firm for the proof shared by the user.


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Arusha Ray answered.
2 years ago


Recently, SEBI permitted the opening of demat account entirely online. You don’t need to fill up forms and sign at 50 different places. Everything is online. Some basic requirements are there. You must have a proper Aadhar which has been biometrically identified. You can just go to the account opening page on the DP website and you can open the entire Demat account online using your Aadhar authentication methodology.
Let us also understand how to open a demat account online. Brokers are now permitting authorization and opening of your demat account using Aadhar Card. You just need to ensure that your Aadhar card is mapped to your bank account and the mobile number you are giving for the Demat account is the same as the one you have given for your Aadhar. The entire authorization (via OTP sent to your mobile)and account opening can be done through Aadhar authentication with only your PAN card copy and a cancelled cheque to be scanned and uploaded online.