NISM Certifications · NISM-Series-VI: Depository Operations · Functions of Depository Participant - Account Opening
Mr. Iyer wants to open a demat account with a depository participant (DP). Which of the following is the primary document set a DP must obtain before opening the account?
A DP must obtain a completed account opening form together with the client's KYC documents, including proof of identity, address and PAN, before opening a demat account. Other items such as issuer certificates or exchange letters are not required for account opening.
- AA duly filled account opening form with the client's KYC documents and proof of identity and addressCorrect
- BOnly a cancelled cheque from the client's bank
- CA certificate from the issuer company confirming shareholding
- DA letter from the stock exchange approving the client
Explanation
A DP opens a beneficial owner account only after obtaining the account opening form and the KYC documents proving identity and address, along with PAN. A cancelled cheque alone, an issuer certificate or an exchange letter are not what the DP requires to open the account.
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