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NISM Certifications · NISM-Series-VI: Depository Operations · Functions of Depository Participant - Account Operations

A BO wants to change the address recorded in his demat account. Which is the normal requirement under DP procedures?

The BO must submit a change request along with valid proof of the new address, and the DP verifies it against the original document before updating records. A phone call or broker confirmation is not enough, and address changes are allowed after opening.

  1. ASubmit a change request with proof of the new address, and the DP verifies it against the original documentCorrect
  2. BOnly a telephone call to the DP is required
  3. COnly the broker's confirmation is required
  4. DNo change is allowed after account opening

Explanation

Changes in BO details such as address need a written request with valid proof of the new address, which the DP checks against the original before updating the records. A phone call or broker's confirmation is insufficient, and changes are permitted.

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