Opening Account

Procedure for Account Opening

Face to Face meeting with Client

Each client should be met in person, before accepting the KYC. The client should be met at the Registered Office or any of the branch offices as per mutual convenience of the client and ourselves.

Verification of details and documentations

Verify the PAN details on the Income Tax website. All documentary proofs given by the client should be verified with original.

Documents like latest Income Tax returns, annual accounts, etc. should be obtained for ascertaining the financial status. If required, obtain additional information/document from the client to ascertain his background and financial status.

Obtain complete information about the client and ensure that the KYC documents are properly filled up, signed and dated. Scrutinize the forms received at branch office thoroughly before forwarding it to RO for account opening.

Ensure that the details mentioned in the KYC matches with the documentary proofs provided and with the general verification done by us.

If the client does not provide the required information, then we should not open the account of such clients. As far as possible, a prospective client can be accepted only if introduced by existing client or associates or known entity. However, in case of walk- in clients, extra steps should be taken to ascertain the financial and general background of the client.

Rejection in below cases

• We should not open any accounts in fictitious / benami / anonymous basis.
• We should not open accounts where we are unable to apply appropriate KYC procedures.

Opening of Account

After proper due diligence we open Demat or Trading Account as requested by client by doing UCC with respective exchanges and intimate to client via welcome kit and upload details of clients with CVL KRA and CKYC within stipulated time prescribed by regulatory authorities.