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NISM Certifications · NISM-Series-VI: Depository Operations · Investor Services (NISM VI)

A BO wants to change the registered address in his demat account. Which is the correct procedure at the DP?

The BO must submit a request with valid proof of the new address, and the DP verifies it against the original before updating records. A mere verbal request is insufficient, and neither the issuer company nor account closure is needed for the change.

  1. AVerbal request over phone is sufficient
  2. BSubmission of a request with valid proof of the new address, which the DP verifies against the original before updatingCorrect
  3. CChange can be made only through the issuer company
  4. DChange can be made only after closing and reopening the account

Explanation

Change of address requires a request from the BO supported by valid proof of the new address, verified by the DP against the original document. It is not done via the issuer, and closing the account is unnecessary. A phone request alone lacks documentary support.

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