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Account Opening

Account Opening

How to open account with PRAGYA EQUITIES PVT LTD?

  • As per the regulations, new accounts cannot be opened if the PAN is not linked with Aadhar. Even if Aadhar is successfully linked with PAN, it must still be updated in the IT records, which can take up to 7 working days. (URL https://eportal.incometax.gov.in/iec/foservices/#/pre-login/bl-link-aadhaar )
  • Before proceeding with the below steps to open the account please do the following check.
  • Go to link https://www.cvlkra.com and do check your KYC Status under KYC inquiry Option.
  • If the KYC Status is displayed as “VALIDATED” under “CVL KRA” then you need not required to fill PART-A of the Form downloaded from the link given below and provide rest of the forms and documents for the account opening.

To open an account, the following documents are required:

Application form

  • PAN card with photograph is mandatory for all applicants except those who are specifically exempt from obtaining PAN (listed in Section D).
  • Original Verified Documents (OVD) are acceptable: Unique Identification Number (UID) (Aadhaar) / Passport / Voter ID card / Driving License / Letter issued by NPR / NREGA job card
  • If driving license number or passport is provided as proof of identity then expiry date is to be mandatorily furnished.
  • Mention identification / reference number if ‘Z – Others (any document notified by the central government)’ is ticked.
  • Others – Identity card with applicant’s photograph issued by any of the following: Central/ State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, etc., to their Members; and Credit cards/Debit cards issued by Banks.
  1. Proof of Address (POA):
  • PoA to be submitted only if the submitted PoI does not have an address or address as per PoI is invalid or not in force.
  • Others includes – Utility bill which is not more than 3 months old of any service provider (electricity, landline telephone, piped gas, water bill); Bank account or Post Office savings bank account statement; Documents issued by Government departments of foreign jurisdictions and letter issued by Foreign Embassy or Mission in India.
  • Identity card/document with address issued by any of the following: Central/ State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, etc., to their Members.
  • Self-declaration of High courts/Supreme court judges, giving the new address in respect of their own accounts.
  • For FII/Sub account, Power of attorney given by FII/Sub account to the custodians (which are duly notarized and/or apostilled or consularized) that gives registered address should be taken.
  • Proof of address in name of spouse may be accepted.
  • Registered lease or Sale agreement/ Flat maintenance bill / Insurance copy / Ration card / Latest Property tax.
  • Original Verified Documents (OVD) are acceptable: Unique Identification Number (UID) (Aadhaar) / Passport / Voter ID card / Driving License / Letter issued by NPR / NREGA job card.
  1. Exemptions/Clarifications to PAN (*Sufficient documentary evidence in support of such claims to be collected)
  • Investments (including SIPs), in Mutual Fund schemes up to INR 50,000/- per investor per year per Mutual Fund.
  • Transactions undertaken on behalf of Central/State Government, by officials appointed by Courts, e.g., Official liquidator, Court receiver, etc.
  • Investors residing in the state of Sikkim.
  • UN entities/multilateral agencies exempt from paying taxes/filing tax returns in India.
  • In case of institutional clients, namely FIIs, MFs, VCFs, FVCIs, Scheduled commercial bank, Multilateral and Bilateral development financial institutions, State Industrial development corporations, insurance companies registered with IRDA and public financial institutions as defined under section 4A of the Company Act 1956, custodians shall verify the PAN card details with the original PANs and provide duly certified copies of such verified PAN details to the intermediary.
  1. List of people authorized to attest the documents:
  • Authorized officials of Asset Management Companies (AMCs).
  • Authorized officials of Registrar & Transfer Agent (RTA) acting on behalf of the AMC.
  • KYC compliant mutual fund distributors affiliated to Association of Mutual Funds (AMFI) and have undergone the process of ‘Know Your Distributor (KYD)’.
  • Notary Public, Gazette Officer, Manager of a Scheduled Commercial/Co-operative Bank or Multinational Foreign Banks (Name, Designation & Seal should be affixed on the copy).
  • In case of NRIs, authorized officials of overseas branches of Scheduled Commercial Banks registered in India, Notary Public, Court Magistrate, Judge, Indian Embassy/ Consulate General in the country where the client resides are permitted to attest the documents.

As part of the mandatory In-Person Verification (IPV) requirement for all brokers, Webcam or a physical verification is required. Either Our Employee or our Authorised Person will make In-Person Verification.

The forms will be reviewed in case any corrections are required. After the forms are reviewed, in-person verification will be done.

Once all the documents are ready then either hand over all the documents to our Employee / Authorised Person physically or Courier all the documents to:

504, Kailash Plaza, V. B. Lane,
Ghatkopar East. Mumbai - 400077.

Trading Form & Other Documents

FAQs

Get the Answers to Common Questions

As per the latest SEBI circular (https://www.sebi.gov.in/legal/circulars/aug-2023/simplification-of-kyc-process-and-rationalisation-of-risk-management-framework-at-kras_75250.html) SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated August 11, 2023 on KRA Regulations, KYC Registration Agencies (KRA) are responsible for validating clients’ KYC details as per their records. If the details are not updated and validated or is “On hold”/”Rejected”. trading and demat shall be blocked for such accounts.

Updation process: This is usually done when your KYC details are incorrect in the KRA portal. In this case, you are required to furnish the following documents at our Office. We will update your KRA details. 

  1. Duly filled and signed KRA form (available on our site) with photo 
  2. Self-attested copy of  PAN card
  3. Self-attested copy of Aadhaar card.

Validation process: After we process your request, we will inform KRA to update their record. After the KRA has updated the details, you shall receive an SMS to your registered mobile number to validate your mobile number and receive an email to your registered email ID to validate your email ID. Check your spam, trash or deleted folder if you do not find the email.

 

Alternative validation process: Check with which KRA your KYC is registered. Click on KYC Inquiry. Enter your PAN, input the captcha and submit. Check your KRA name and visit your respective KRA website from the below link and follow the on-screen instructions to validate your email/mobile number.

After the contact details are validated with KRA, it would be processed in 5-7 workings days to update your records and activate your trading account & demat account if deactivated.

  1. Clients shall not be allowed to trade on any exchange or manage their open positions (if any) until they comply with the KYC requirements
  2. Clients trading and demat account will remain deactivated till the KRA details are updated and validated.

Firstly, update your email ID and mobile number using our Modification forms available offline or at our PEPL website. The modification request shall be processed within 48 working hours after receiving the physically signed copy at our office or by emailing via client's registered email address to our pragyaequities@gmail.com email address, after which we will inform KRA to update their records. After the KRA has updated the details, you shall receive an email and SMS from your respective KRA to validate your email ID and mobile number. Your task is done once you validate your email ID/mobile number. 

 

KYC Form & Other Documents Download

We are sorry to hear that you got in a trouble but not to worry, we are there to support you in every possible manner. You can write your grievance to us at pepl7545@gmail.com

We at PRAGYA EQUITIES PRIVATE LIMITED are there for you. We try to resolve your query in shortest time possible. If you wish to accelerate your grievance or know about the progress regarding your grievance, you can mail to us as per the Escalation Matrix given on our Website (Link)