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

A BO wishes to change the registered mobile number and e-mail address linked to the demat account. What is the standard DP procedure?

The BO submits a change request with supporting proof, and the DP verifies it before updating the records. This safeguards the account against fraud, so unverified verbal requests are not acceptable and the registrar does not handle the change.

  1. ASubmit a change request with supporting proof, which the DP verifies before updating the BO recordsCorrect
  2. BThe DP may change it on a verbal request over phone from anyone
  3. CThe change can be done only by the issuer's registrar
  4. DNo change is permitted once the account is opened

Explanation

Changes to BO details need a written or authenticated request with proof, verified by the DP before updating records. This protects against fraud. Verbal requests are not safe, the registrar does not maintain DP records, and changes are allowed.

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