New Delhi. If you do trading in the stock market, then this news is very important for you. Now just 8 days are left for getting the KYC of the Demat Account (Demat Account KYC) required for the purchase and sale of shares.
If you do not do KYC of your demat account within these eight days, then your account will become inactive and you will not be able to do any kind of transaction with it. Due to this your transaction will get stuck and you will have to face a lot of difficulties.
According to the new rules of market regulator SEBI, if you have a demat account, then you will have to KYC it by 30 June 2022. Demat accounts without KYC will become inactive from July 1. With this you will not be able to trade in the stock market. Even if a person buys shares of a company, then these shares will not be able to transfer to the account. This transaction will be completed only after KYC is completed and verified. Earlier the last date for doing KYC of demat account was 31 March 2022. Later it was increased to 31 June. SEBI has made it clear that no further time will be given for KYC of demat account after June 30.
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.
How to do KYC?
Stock brokers are advising their clients i.e. demat trading account holders to get KYC done to prevent demat account from deactivating. Almost all brokerage houses are providing online KYC facility. Apart from this, you can also get KYC done by visiting the office of the brokerage house.
