As per SEBI circular SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated August 11, 2023 on KRA Regulations, KYC Registration Agencies (KRA) are responsible for validating clients’ KYC details as per their records.
Impact of the above regulation, if it is not followed:
Clients shall not be allowed to trade on any exchange or manage their open positions (if any) until they comply with the KYC requirements
Clients trading and demat account will remain deactivated till the KRA details are updated and validated.
How to Validate Your KRA Status “On Hold”/”Rejected” with KRA Agency?
As per SEBI guidelines, it is mandatory to verify your KYC details such as email ID and mobile number registered with the KRA (KYC Registration Agency).
Updation Process:
This is usually done when your KYC details are incorrect in the KRA portal. We will update your KRA details.
Duly filled and signed KRA form with photo
Self-attested copy of PAN card
Self-attested copy of Aadhaar card.
Once we receive the above documents, it shall be updated in our record.
Validation process:
After we process your request, we will inform KRA to update their record. After the KRA has updated the details, you shall receive an SMS to your registered mobile number to validate your mobile number and receive an email to your registered email ID to validate your email ID. Check your spam, trash or deleted folder if you do not find the email.
Alternative validation process:
Check with which KRA your KYC is registered. To do this, please follow the steps mentioned below:
Visit cvlkra.com
Click the KYC inquiry section
Enter your PAN and captcha details
Click ‘Submit’ to fetch your status
Refer to the ‘KRA’ column to find out the name of your KRA where KYC is registered
It will be one of these 5 - CVL KRA, KARVY KRA, NDML KRA, DOTEX KRA, CAMS KRA
Now where your KYC is registered go to that website and follow the on-screen instructions to verify your mobile number and email ID
There are 3 Type of KYC status – on Hold, Registered and Validated.
If your email/mobile number is incorrect:
Update your email ID and mobile number. Once this will be done, follow the below procedure- The modification request shall be processed. When the KRA will update the details, you shall receive an email and SMS from your respective KRA to validate your email ID and mobile number. Your task is done once you validate your email ID/mobile number.
After the contact details are validated with KRA, it would be processed in 5-7 workings days to update your records and activate your trading account if deactivated.
Links to Validate Your Mobile and Email with KRA Agency:
CVL KRA - https://validate.cvlindia.com/CVLKRAVerification_V1/
KARVY KRA - https://www.karvykra.com/KYC_Validation/Default.aspx
NDML KRA - https://kra.ndml.in/kra/ckyc/#/initiate
DOTEX KRA - https://www.nsekra.com/
CAMS KRA - https://qrkra.camsonline.com/KRAAADHAARWEB/MobileApp/ARV.aspx
Issued in the “Interest of Investor”……………….
SEBI Regn. No. : INZ000184638
NSE : TM No. : 12788, BSE : TM No. : 6395, MSEI: TM No. : 21000
ICEX : TM No. : 2062, MCX : TM No. : 29905, NCDEX: TM No. : 00732
AMFI ARN No. : 78123
DP SEBI Regn. No.: IN-DP-261-2016
CDSL Depository Participant : DP ID: 12070600
CCRL Repository Participant : RP ID: 12070600
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Disclaimer: Investment in securities market are subject to market risks, please read all the related documents carefully before investing
ATTENTION INVESTORS:
Update your Mobile Number and E-mail IDs with your Stock Broker: “Prevent unauthorized transaction in your Trading/Demat account. Update your Mobile Numbers/Email Ids with your Stock Brokers/Depository Participant. Receive information/alerts of your transaction (Trading A/c) directly from Exchange at the end of the day & Demat Transaction for all debit and other important in your demat A/c directly from CDSL on the same day on your Registered mobile/email.
About CAS facility: For the benefit of the investors SEBI directed Depositories to send the Consolidated Account Statement (CAS) for the investment of an investor in Mutual Funds (MF) and Securities held in Demat form with Depositories. In case the client do not desire to receive CAS then they can opt out of the facility by submitting a request letter to the DP duly signed by all the holders stating that they do not wish to receive CAS as per guidelines prescribed by SEBI in communiqué no. 4816 and 4900
KYC is one time exercise: "KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.),you need not undergo the same process again when you approach another intermediary."
Old DIS Booklet Phased out: DIS issued prior to 07-Jan- 2014 Phased out w.e.f. 06-Jan-2016 for Demat Transactions, Kindly contact your DP to receive New DIS to further transaction.
ASBA mandatory after January 1, 2016: "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Pledge/Block Mechanism: Stock Brokers can accept securities as margin from clients only by way of pledge/block mechanism in the depository system w.e.f. September 01, 2020.
OTP directly from Depository: Update your email id and mobile number with your stock broker / depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
FAQ: Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard.
Margin: Pay 20% (or as per exchange) upfront margin of the transaction value to trade in cash market segment.
CAS: Check your securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month.
ITORS: “The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time. The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.”
Beware of fixed / guaranteed / regular returns / capital protection schemes. Stock Brokers (Brokers/Members) or their authorized persons or any of their associates are not authorized to offer fixed / guaranteed / regular returns / capital protection on your investment or authorized to enter into any loan agreement with you to pay interest on the funds offered by you. Please note that in case of default of a member claim for funds or securities / commodities given to the Broker under any arrangement / agreement of indicative return will not be accepted by the relevant Committee of the Exchange as per the approved norms.
Do not keep funds idle with the Stock Broker. Please note that your Stock Broker has to return the credit balance lying with them, within three working days in case you have not done any transaction within last 30 calendar days. Please note that in case of default of a Member, claim for funds and securities/commodities, without any transaction on the Exchange will not be accepted by the relevant Committee of the Exchange as per the approved norms.
Check the frequency of accounts settlement opted for. If you have opted for running account, please ensure that your Stock Broker settles your account and, in any case, not later than once in 90 days (or 30 days if you have opted for 30 days settlement). In case of declaration of Member as defaulter, the claims of clients against such Defaulter Member would be subject to norms for eligibility of claims for compensation from Member funds / IPF to the clients of the Defaulter Member.
These norms are available on Exchange website at following link: https://www.mcxindia.com/Investor- Services/defaulters/sop-process-faqs-for-handling-of-claims-of-investors-of-defaulter-member
Stock Brokers are not permitted to accept transfer of securities as margin. Securities offered as margin / collateral MUST remain in the account of the client and can be pledged to the broker only by way of ‘margin pledge’, created in the Depository system. Clients are not permitted to place any securities with the Broker or associate of the Broker or authorized person of the Broker for any reason. Broker can take securities belonging to clients only for settlement of securities sold by the client.
Always keep your contact details, viz. mobile number / email ID updated with the Broker. Email and mobile number is mandatory and you must provide the same to your Broker for updation in Exchange records. You must immediately take up the matter with Broker / Exchange if you are not receiving the messages from Exchange / Depositories regularly.
Don't ignore any emails / SMSs received from the Exchange for trades done by you. Verify the same with the contract notes / statement of accounts received from your Stock Broker and report discrepancy, if any, to your Broker in writing immediately and if the Broker does not respond, please take this up with the Exchange/Depositories forthwith.
Check messages sent by Exchanges on a weekly basis regarding funds and securities balances reported by the Stock Broker, compare it with the weekly statement of account sent by Stock Broker and immediately raise a concern to the Exchange if you notice any discrepancy.
Please do not transfer funds, for the purposes of trading to anyone, including an authorized person or an associate of the Stock Broker, other than a SEBI registered Stock Broker.
Do not deal with unregistered intermediaries (who are not registered with SEBI/Exchanges).
CDSL INVESTOR MOBILE APPLICATION- MYEASI This enhanced CDSL investor mobile app are designed to empower investors by providing them with convenient, secure, and real-time access to their securities holdings and related information. The upgraded digital interface enables investors to easily view, monitor, and track their portfolios within a trusted and seamless environment.
The new unified features of the CDSL investor application are now accessible through the ‘MyEasi’ mobile application as well as the CDSL web platform ‘Easi/Easiest’. Investors can download the CDSL MyEasi app from the Google Play Store (for Android devices) or the Apple App Store (for iOS devices) by searching for “CDSL MyEasi App.” For web-based access, investors can visit the following link: EasiEasiest - https://web.cdslindia.com/myeasitoken/home/login
.......... Issued in the interest of Investors
Investor Grievance:
In case of any grievances please write to: grievances@msbetrade.com (for Trading) dpgrievances@msbetrade.com (For DP)
Information regarding SEBI Complaint Redress System (SCORES)
Filing of complaints on SCORES – Easy & Quick
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