Investors utilising the trading platform are required by the capital markets regulator Securities and Exchange Board of India (Sebi) to link their Aadhaar number with the appropriate Demat account. The National Securities Depository Ltd (NSDL), in line with this, has put in place measures to connect the Aadhaar number to the Demat account.
Step-by-step guide on how to link Aadhaar card with Demat account on NSDL website:
- Open the official NSDL website.
- Find 'Link Aadhaar with Demat Account' on the homepage.
- Click on the ‘Get Started’ tab on the new page.
- Input the customer ID, PAN number, the Demat account number, the name of the Demat account holder, and so on.
- Click on ‘Proceed’ after the Verification Code.
- You will get an OTP on your registered mobile number.
- For confirmation, Demat information will be shown on the screen. If the data shown is accurate, continue with the connection process.
- The Aadhar and the Demat account will be linked once the information has been successfully verified and authenticated.
Benefits of linking Aadhaar card with Demat account:
- Aadhar and Demat account linking minimise the amount of paperwork needed for futures and options trading.
- Since your Aadhaar card is used to confirm all facts, eKYC approval is quick and simple.
- Demat accounts that are not connected to Aadhaar cards may eventually be deactivated.
- makes it possible for authorities to monitor easily, and it helps to stop fraud.
