How to know Demat Account Number & DP ID?
The Depository Participant, or DP,
provides each Demat account a unique 16-digit account number to the account
holder. When you open a Demat account online, the depository (CDSL or NSDL)
will send you a welcome letter with all of your account information, including
your Demat account number. In the case of the CDSL, the Demat account number is
also known as the Beneficiary Owner ID or BO ID.
The Demat account format differs
depending on whether the CDSL or the NSDL is in the picture. In the case of
CDSL, the Demat account number has a 16-digit numeric code, but in the case of
NSDL, the Demat account number begins with "IN" and is followed by a 14-digit
numeric code.
What is
Depository Participant?
Agents of a depository, such as NSDL
or CDSL, are depository participants. A depository issues them a licence to
operate under the provisions of The Depositories Act, 1996.
To open a demat account; an investor
who is new to the share market must approach a depository participant. The
depository participant holds the investor's acquired shares, however the
investor is the sole beneficial owner of the shares. The depository participant
credits or debits the demat account whenever a purchase or sell transaction
occurs.
What is DP
ID?
The DP ID (Depository Participant
Identification) and your Demat account number are not the same and have nothing
to do with the Demat account holder. A Depository Participant, such as a
brokerage firm, bank, or financial institution, is assigned a number by the
CDSL and NSDL.
A Demat account number is created by
combining the DP ID and the customer ID of the Demat account holder. Your DP ID
is usually the first eight digits of your Demat account number, whereas the
account holder's customer ID is usually the last eight digits.
If a Demat account holder is having
trouble locating their account number, they can perform a simple activity.
If your CDSL Demat account number is
9865510102020202, the DP ID is 98655101, and the Demat account holder's
customer ID is 02020202. In the case of NSDL, if a Demat account number is
IN12345698965431, the DP ID is IN123456 and the customer ID of the Demat
account holder is 98965431.
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