Important News for Stock Market Investors! If KYC is not updated then Demat Account will be closed from 1st August

Important News for Stock Market Investors!  If KYC is not updated then Demat Account will be closed from 1st August

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If you invest in the stock market and have a demat account or trading account, this is the news for you. Because if you do not update your KYC by July 31, your account Inactive Will be

Circulars issued by Depositories National Securities Depository Limited (NSD) and Central Depository Services Limited (CDSL) on April 7, 2021 and April 5, 2021 stated that 6 KYC information should be provided to account holders.

Important News for Stock Market
Important News for Stock Market

All 6 details have been made mandatory for new accounts opened after June 1, 2021. For existing accounts, market regulator Sebi has asked depositors to update all 6 KYCs and tell customers where they need to update. The circular said that the requirement of depositing PAN on behalf of customers for trading in securities market will continue with the sanctioned discounts, investors are asked to verify the PAN card by visiting the Income Tax website. If the PAN card is not linked to Aadhaar, then the PAN card will not be considered valid.

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