The Securities and Exchange Board of India (Sebi), which oversees the capital markets, requires traders to associate their Aadhaar number with the appropriate Demat account. In accordance with this, the National Securities Depository Ltd. (NSDL) has established procedures to link the Aadhaar number to the Demat account.
Instructions for linking your Aadhaar card to your Demat account on the NSDL website:
- Open the NSDL’s official website.
- On the homepage, look for “Link Aadhaar with Demat Account.”
- On the new page, select the “Get Started” tab.
- Enter the customer ID, PAN number, Demat account number, account holder’s name, and so forth.
- After entering the verification code, select “Proceed.”
- An OTP will be sent to the registered mobile number you provided.
- The Demat information will be displayed on the screen for confirmation. Proceed with the connection procedure if the displayed data is accurate.
- Once the information has been successfully verified and authenticated, the Demat account and Aadhar will be linked.
Benefits of linking a Demat account and Aadhaar card:
- For futures and options trading, linking an Aadhar and Demat account reduces the amount of paperwork required.
- eKYC approval is quick and easy due to the fact that your Aadhaar card is used to verify all facts.
- It’s possible that demat accounts that aren’t linked to Aadhaar cards will be deactivated in the end.
- Enables authorities to easily monitor and aids in fraud prevention.