If you are trading in the stock market, then this news is important for you. Now if you have not done KYC of your Demat account then you will not be able to trade from 1st July.
Do you invest money in the stock market? Do you like shopping? Then this news is of your use. Now if trading in the stock market is to be done, then the Demat account holders must get KYC done by June 30. If you have done KYC then there will be no problem. But if KYC is not done then the Demat account will be deactivated. And in such a situation you will not be able to invest money in the stock market.
SEBI changed the rules
Please inform that the stock market regulator SEBI has changed the rules of the Demat account. According to this, if you are a Demat account holder, then you are required to do KYC by 30 June 2022. Demat account will be deactivated if KYC is not done. With this, you will not be able to trade in the stock market.
Process verification required
If someone has bought the shares of the company, then the shares will not be transferred to his account. The shares will be transferred to the account only after the KYC process is completed and verified. According to the new rule, it is necessary to do KYC with name, address, PAN, mobile number, email id, and income limit in the Demat account.
How to do KYC?
Stock brokers advise their clients to do KYC soon. This will not deactivate your Demat account. Many brokerages are offering online KYC facilities to customers who invest money from home. You can also get KYC updated by visiting the office of the brokerage house.