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

A BO who has changed residence wants to update his address in the demat account. What is the usual requirement for the DP to effect the change?

The BO must submit a written request along with valid proof of the new address, which the DP verifies against originals. A phone call or a broker's letter is insufficient, and address changes are permitted after opening the account.

  1. AA request from the BO along with proof of the new address, verified against the originalCorrect
  2. BOnly a telephone call from the BO
  3. CA letter from the stock broker alone
  4. DNo change is allowed once an account is opened

Explanation

Change of address requires a written request from the BO with valid proof of the new address, which the DP verifies against originals. A phone call or broker letter is not adequate, and changes are permitted.

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