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Can RMoney Demat Account Be Opened in the Name of Minor?

Post Date : November 17, 2022

Demat Account opening facility is offered to minor by RMoney, however, there are some rules that are applicable. The rules are as follows:

A minor Demat & Trading Account can now be opened. However, a minor cannot open a Demat Account. Instead, a minor’s parents can open and operate the demat of minors until their child becomes an adult.
A minor cannot use a trading account to buy or sell stocks, and take part in intraday trading or equity purchases.
A minor cannot be a joint owner in any Demat Account. If they have a Demat Account in their name, it would be a sole ownership, though it will be operated by their guardians.
One needs to follow all the eKYC procedures even to open a Demat and Trading Account for minor. Both the guardian of the child and the child themselves have to complete all the formalities.

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Standard Warning/ Disclaimer: Investments in securities market are subject to market risks, Read all the related documents carefully before investing.

Attention Investor:

# Prevent Unauthorised transactions in your account. Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day ……….Issued in the interest of investors.
# KYC is one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
# No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in investor’s account.

Dear Investor if you wish to revoke your un-executed e-DIS mandate, please mail us with ISIN and quantity on dp@rmoneyindia.com by same day EOD.

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