Points:

•   A Guardian can open a Demat account on behalf of a minor at RR Stock, invest in stocks in his own name (with own trading/demat account) and then make an
      off-market transfer of these securities to the minor’s Demat account as a gift.

•   Once a minor attains majority, he/she needs to submit a new KYC* or KRA* application form to be registered with RR Stock. The account holder will also have to
      submit a new account opening form duly complete in all respects. Subsequently the guardian’s details shall be deleted and the guardian’s signatures shall be
      replaced by the minor’s (now major) signatures.

      The above procedure can be followed only if the word ‘minor’ is not present in the “Account Holder’s name” when the account was opened. If the word “minor”
      is present, then the existing account has to be closed and a new account has to be opened.

•   This also applies to mutual funds investments made directly from the stock exchanges. A minor cannot purchase mutual funds in his/her own name from the
      stock exchanges. The guardian has to invest in mutual funds and then make an off-market transfer into the minor's Demat account.

The below points have to be kept in mind while opening a minor’s Demat account with RR Stock –

i.         The account opening form has to be filled by the guardian of the minor.
ii.        In the KYC form, the guardian's photograph has to be attached along with the minor's photo.
iii.      The Guardians KYC documents (i.e. ID proof, address proof) have to be submitted along with the minor's KYC documents.
iv.       The minor's PAN card and the Birth certificate must be submitted.
v.        The guardian's KYC form is required if the guardian's KYC has not been registered.
vi.      Address proof of minor (account holder)
vii.     Bank proof of minor (account holder)
viii.    AMC* charges of Rs 200/- (An upfront AMC is required to be collected while opening a minor's account.
ix.       A written letter/email confirmation required by the guardian for the reason of opening the minor's account.

Since a trading account will not be opened for a minor, s/he will not be able to buy or sell shares. Shares can only be transferred in and out of the minor's Demat account. For the transfer of shares, a CMR* will be generated and provided to the guardian.

To open a minor Demat account, you can call 011 23354802 / 080 23352497 and our sales representative will help you get the account opened.




KYC - Know Your Customer

KRA - KYC Registration Agency

AMC - Annual Maintenance Charge

CMR - Client Master report


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  • Attention Investors
  • * Beware of fixed/guaranteed/regular returns/ capital protection schemes. Brokers or their authorized persons or any of their associates are not authorized to offer fixed/guaranteed/regular returns/ capital protection on your investment or authorized to enter into any loan agreement with you to pay interest on the funds offered by you. Please note that in case of default of a member claim for funds or securities given to the broker under any arrangement/ agreement of indicative return will not be accepted by the relevant Committee of the Exchange as per the approved norms.

    * Do not keep funds idle with the Stock Broker. Please note that your stock broker has to return the credit balance lying with them, within three working days in case you have not done any transaction within last 30 calendar days. Please note that in case of default of a Member, claim for funds and securities, without any transaction on the exchange will not be accepted by the relevant Committee of the Exchange as per the approved norms.

    * Check the frequency of accounts settlement opted for. If you have opted for running account, please ensure that your broker settles your account and, in any case, not later than once in 90 days (or 30 days if you have opted for 30 days settlement). In case of declaration of trading member as defaulter, the claims of clients against such defaulter member would be subject to norms for eligibility of claims for compensation from IPF to the clients of the defaulter member. These norms are available on Exchange website at following link: here.

    * Brokers are not permitted to accept transfer of securities as margin. Securities offered as margin/ collateral MUST remain in the account of the client and can be pledged to the broker only by way of ‘margin pledge’, created in the Depository system. Clients are not permitted to place any securities with the broker or associate of the broker or authorized person of the broker for any reason. Broker can take securities belonging to clients only for settlement of securities sold by the client.

    * Always keep your contact details viz. Mobile number/Email ID updated with the stock broker. Email and mobile number is mandatory and you must provide the same to your broker for updation in Exchange records. You must immediately take up the matter with Stock Broker/Exchange if you are not receiving the messages from Exchange/Depositories regularly.

    * Don't ignore any emails/SMSs received from the Exchange for trades done by you. Verify the same with the Contract notes/Statement of accounts received from your broker and report discrepancy, if any, to your broker in writing immediately and if the Stock Broker does not respond, please take this up with the Exchange/Depositories forthwith.

    * Check messages sent by Exchanges on a weekly basis regarding funds and securities balances reported by the trading member, compare it with the weekly statement of account sent by broker and immediately raise a concern to the exchange if you notice a discrepancy.

    * Please do not transfer funds, for the purposes of trading to anyone, including an authorized person or an associate of the broker, other than a SEBI registered Stock broker.”
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