Saral Account Opening Form – Introduction, Requirements & Other Details
Saral Account Opening Form : BSE comes out with Saral account opening forms for Investors. BSE has announced the launch of ‘Saral’ or simplified account opening form for individual investors in the securities market. In this article you can find complete details regarding Saral Account Opening Form like Introduction of Saral Account, Requirements for Saral Account, How to change Address etc. Now you can scroll Down below and find complete details regarding “Saral Account Opening Form – Complete Details”
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Saral Account Opening Form
Entering into a stock market includes availing all kinds of benefit facilitated by the Stock exchange in order to optimize the trading experience…..Apart from buying and selling of equity , mutual funds, margin trading and derivative trading are also good products in the investment market….It’s some how difficult to individual investors to comply all the requirements to open a trading account…. to facilitate an easy and simplified account opening process for investors entering equity cash market SEBI has announced this Simplified account opening form.
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It has been observed that the new investors who start investing , trading first time in their life are not availing the facilities provided by Stock exchanges due to many reasons….. Thus the purpose of facilitating these benefits has not been served….
To open a typical demat and broking account with a full-fledged broker, the form requires 20-odd signatures from investors, depending on what facilities investors sign up for. It varies from brokers to brokers. This also includes Know your customer requirements.
With a view to facilitate the entry of these new investors and encourage them to participate in the cash market SEBI , has prescribed that individual investors can open a trading as well as demat account by filling up a simplified form…. This account is called SARAL which means simple.
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This simplified form will be separately available with the intermediaries and can also be downloaded from the stock Exchange’s and Depositorie’s 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 form can be filled by submitting only one documentary proof of address, which can either be correspondence or permanent address. It is available on BSE and NSE website for easy access of investors.The form can be filled by any resident individual investors who wishes to be a part of the equity market.
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Change in address :
Investors whose current residence is different from the proof of address submitted, need to only give a self-declaration on which all correspondence will be made by the intermediary with the investor.
what to do if one can’t submit his/her proof of address at the time of opening account?
Investors who could not submit address proof used to find it difficult to open trading accounts. Now, investors can submit a self-declaration initially and open the account. They can submit address proof later on.
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Greatest advantage to individual investors :
Due to various reasons government of India is making disinvestment in some Public sector units…While carrying on this disinvestment individual and retail investors have no opportunity to buy the stake in these PSU s….
The upcoming disinvestment programme of the government will set aside a certain percentage of the share for retail investors. The SARAL AOF will provide an incentive for retail investors to take part in the disinvestment.