Subject: Approval for eKYC KRA based Account-Opening Process.
At the outset, this is to inform that below mentioned process is for new account opening Trading +
Demat account through KRA based process.
Our company is registered with CVL for KRA based e-kyc account opening process.
Regarding the e-kyc application:
E-kyc web/mobile (Android) based application is developed by JRK Stock Broking Pvt Ltd. The e-kyc
app facilitates account opening process i.e, Trading account and DEMAT account for OUR
COMPANY. The app will give to OUR COMPANY team all over India to open ekyc online accounts.
OUR COMPANY, team can download the app through a link provided by Head Office. A unique user ID
and password is created and respective branch (s) is mapped to the person. The user ID and
password is send to executive via SMS and email on his given mobile number and official email ID.
team unique user ID is tagged under“” bucket.
E-kyc account opening process :
OUR COMPANY executive personally meets the client (Individual/Resident Individual) while opening
the account and obtain the requisite KYC information.Through e-kyc app ONLY INDIVIDUAL
/sole account, are opened. Given below are the step – by-step account opening process:
- person meets the client personally.
- person enter client’s PAN and DOB in the e-kyc application.
- If client is existing KRA complied client – his data is fetched from CVL –KRA site and will getpopulated
on ekyc app.
- Client’s BASIC DATA Like – Full name, father’s name, gender, nationality is fetched from CVL KRA.
- Mother’s name (CKYC compliance) is entered manually in the app by executive.
- Correspondence address of client also fetched from KRA site.
- If client wants to keep correspondence and permanent address same – he can opt for “same”
option. Otherwise, in case of any difference – the client provides separate address proof. person
will take photo of other address proof and upload on ekyc app.
- Data fetched from KRA is non –editable at the time of account opening. If client wishes to
modify his KRA data he cannot do the same on e-kyc app. Once the account is opened – client
can submit physical modification form and can update his data.
- Client’s email ID is also fetched from KRA site. In case of no email ID on KRA/– client gives new
email ID . Client will get the OTP on his email. Client will inform the OTP to person and the
same is verified on e-kyc app.
- Upon completion of KRA data : client’s TRADING account details ( as per KYC norms) like –
trading preference in cash, FO, brokerage details, contract note preference, trading type etc.,
income details, FATCA declaration are entered in the app. (There is a provision in app, “tax
resident other than India” – refer annexure 1 screen shoot from ekyc app.)
- DEMAT account opening option is given to the client: In case client wants to open DP account
with OUR COMPANY he can give his preference. Otherwise, in case if client is having existing
DP account with some other broker he will provide that data.
- Client has to map BANK account details – for which he provides Bank account details to
executive like Bank name, account number, IFSC code, MICR code. Bank details proof is
- Nomination Form: Client can filled minimum one and maximum three Nominee details on screen
- Occupation and income range details are also asked from client and the same is punched in the app.
Once all data is provided in the ekyc application, executive will have to CLICK and UPLOAD –
ORIGINAL proofs for vetting of KYC by KYC processing department.
- Client live photo – Through live photo Link along with geo tagging.
- Original PAN Photo.
- Original Address photo.
- Bank (Cheque) photo.
- Signature sample – photo
* In –person Verification (IPV): In order to comply with the Regulatory norms for in case of the client is
Non-KRA compiled, our employee will do OSV with as like present scenario. once the KYC is approved
by the KYC processing department. (Please note, person login in app through his unique user ID and
password. Upon completion of IPV his name appears as IPV person in the e-kyc. Like a STAMP)
however we are obtaining wet stamp of OSV and IPV from our employees on the copies of uploaded
OUR COMPANY, executive will now show the Account Opening form containing entire terms and
condition, Dos and Donts, Rights and Obligations, Tariff sheet as prescribed by the Regulator to
the client as well as client is also able to view the same on client’s registered email id. Client can
read the same in app itself and person will SUBMIT the details with the consent of client.
Ekyc scrutiny by KYC department.
Kyc processing department – will have a unique user ID and password tagged under: “KYC” bucket. The
role of KYC processing team is to check online ekyc details submitted by executive along with data
which was submitted and proofs (photos) clicked against it.
E – SIGNATURE:
- Approved KYC: a message is sent to executive regarding KYC approval. Simultaneously, aSMS
is send to client’s registered mobile number about his unique client code (UCC.)
- Rejected KYC: in case of any discrepancy in the submitted data and uploaded photos a
rejection alert is sent to the executive for necessary action.
E-signature is digital signature of client which is affixed on approved KYC’s. Before e-sign, client can
view the KYC details in pdf format on person ekyc app itself. The e-sign is done through OTP
verification. An OTP is sent to client’s mobile number. Client will give the OTP to person. Upon OTP
verification an e-kyc pdf will be generated and pdf will be e-signed by client. (Name of client, date and
time will appear on e-sign mark.) A digital e-signature is affixed on mandatory places like KRA Page,
Trading Declaration, Trading preference, OUR COMPANY Declaration, OUR COMPANY Tariff Sheet,
Trading Disclosures as prescribed by Regulator. Also, e-sign on ID proof, Address Proof, PAN, IPV,
Power of Attorney Page, Signature specimen is done.
For E-Sign Option – Client has to only quote his VID (Provided by UIDAI Site) in UIDAI Site to get OTP
for e-sign, this will be generated through CVL e-sign services.
However, if VID is not quoted – It will not be e-signed and client has to submit the physical KYC copy
duly signed by him.
Validation of eSignature: While e-Signing we are validating below parameters
- Client Name
- Aadhar No last 4 digit no
Post account opening: executive will obtain following signature of the client on Digital account
opening form; wet signatures are obtained on annexure only. Account is opened only after verification
of all details and proofs received through ekyc app. Also, ekyc details are get converted into kyc pdf.
wherein all details are reflected.
Following mandatory trading and OUR COMPANY compliances are also provided to theclient:
- Power of Attorney: (POA): client is required to mandatory do wet signature on POA page as well.
- Declaration: client will do wet signature on declaration – which will confirm that client wishes
to open ekyc for account opening process.
- Rights and Obligation booklet: As per Regulatory norms – executive will give a separate booklet “CLIENT
INFORMATION BOOKLET”. This book contains OUR COMPANY , SEBI and CDSL registration numbers,
Office Address, Details of compliance officer, grievances email ID
Customer Identification Procedure (FOR OPENING NEW CLIENTS)
- Rights & Obligation of Stock Brokers, Sub – Brokers and Clients.
- RiskDisclosure Document Guidance Note.
- Policies & Procedure (Mandatory Document) and
- Notice on Important Issues (Non- Mandatory).
- per SEBI CIR/MIRSD/12/2013 dated December 04, 2013:
- Rights and Obligations of Beneficial Owner and Depository Participant as prescribed by SEBI and
Procedure of client account opening is as follows:-
- Client should be introduced by the existing clients/staff, branch of the company or person
known to company.
- Client should be interviewed by the employee of the company (i.e. IN PERSON
VERIFICATION is carried out before opening ofthe accounts).
- Collectthe PanCardof each client and verify the same from Income Tax web-Site with
Aadhar linking, SEBI Ban file.
- Collect the proper proof of address from client like Aadhar Card, ration card,
telephone bill,rent agreement, driving license, passport, bank statement etc.
- Collect the proper proof of bank account like Bank Statement along with Cancel Cheque.
- Verify the all the documents from the original and put the stamp of verified on documents.
- Verify the Mobile number, EmailID with calling and sending email to clients.
- In case of opening of account of illiterate person, extra care should be taken and get the
thump impression of person notarized.
- In case of opening of corporate account take the copy of board resolution duly
certified by the director/company secretary and all related documents.
- It is verified that either the client is already registered or is being registered for the first
time. We update the client’s data on CVL KRA or NDML KRA and CKYC before account
opening of DP & Trading Account.
- After opening the account we will send Welcome letter to NewClient.