In Person Verification (IPV) is a mandate issued by SEBI as mentioned in this circular. It is done to ensure that stock brokers can verify the true identity of the applicant along with verifying the authenticity of the documents submitted. It helps prevent fraud and potential unauthorized activities using your personal details. It ensures that the account opening function is not outsourced to anyone. In Person Verification (IPV) is required if your KYC is not registered with any KYC Registration Agencies (KRAs). If it is already registered, then IPV is not compulsory.
Can I open Demat account online at FYERS?
As an existing client with a Trading Account, How to open a FYERS Demat Account?
What happens if I don’t give the Power of Attorney (POA) of my demat account?
Is it allowed to trade in equity delivery by linking other Demat accounts?
How do I add a nominee to my trading account while opening an account by E-sign, I don’t see it on my digitally signed form?
Is it mandatory to open a Demat account?