This simplified form will be separately available with the intermediaries and can also be downloaded from the Exchanges' and Depositories' website
The SEBI on Wednesday announced a 'Saral' — simplified account opening form for new individual investors and eased the process for submitting address proof documents.
The move comes in the backdrop of the government and the regulator making efforts to attract new retail investors to the market especially for the disinvestment share sales through Offer For Sale (OFS) and other routes.
A majority of new investors in the securities market begin with participation in the cash segment without obtaining various other facilities such as internet trading, margin trading, derivative trading and use of power of attorney.
With a view to facilitate the entry of these new investors and encourage them to participate in the cash market including the disinvestment of PSUs through OFS process, SEBI on Wednesday has prescribed that individual investors can open a trading as well as demat account by filling up a simplified one page Account Opening Form termed as 'SARAL AOF'. There will not be any requirement of separate form for opening demat account.
This simplified form will be separately available with the intermediaries and can also be downloaded from the Exchanges' and Depositories' website. It is clarified that individual investors who open account through SARAL AOF will also have the option to obtain other facilities, whenever they require, on furnishing of additional information as per regulations
The move comes in the backdrop of the government and the regulator making efforts to attract new retail investors to the market especially for the disinvestment share sales through Offer For Sale (OFS) and other routes.
A majority of new investors in the securities market begin with participation in the cash segment without obtaining various other facilities such as internet trading, margin trading, derivative trading and use of power of attorney.
With a view to facilitate the entry of these new investors and encourage them to participate in the cash market including the disinvestment of PSUs through OFS process, SEBI on Wednesday has prescribed that individual investors can open a trading as well as demat account by filling up a simplified one page Account Opening Form termed as 'SARAL AOF'. There will not be any requirement of separate form for opening demat account.
This simplified form will be separately available with the intermediaries and can also be downloaded from the Exchanges' and Depositories' website. It is clarified that individual investors who open account through SARAL AOF will also have the option to obtain other facilities, whenever they require, on furnishing of additional information as per regulations
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