Request Dhan to allow Esign using with Class 3 Digital Signature Certificate(DSC) issued by Emudhra etc for New Demat A/c Opening.
Note: Class 3 DSC is a valid & Compulsorily Esignature for Income Tax Filing by Taxable Assesses .
Hi @VCS We can open account by KYC procedures that are defined by SEBI., which is with Aadhaar based eSign.
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INCORRECT … SEBI KYC Circular is as below. In Paragraph 33 (Page 14) & Paragraph 36 & 37 (Page 15) - SEBI says electronic/digital signature, INCLUDING Aadhaar e-Sign.
So, by using the word INCLUDING, SEBI is saying other Digital Signature too can be used. (THEY HAVEN’T USED the word ONLY)
Correct your mistake - And Enable Other Options as well.
Hi @VCS When I say that this needs to be compliant with the procedures defined by SEBI, it also means other internal processes that broker has to follow.
Additionally, we do not have any trading account linked to your profile on this community - so I’m unsure of the intention behind this post.
We have no plans to implement the method mentioned by you. Existing process is seamless, and an industry standard now.
Why SEBI have included word INCLUDING = as otherwise it is CONTEMPT of HONORABLE SUPREME COURT OF INDIA and CHIEF JUSTICE A.K.SIKRIji’s 2017 JUDGEMENT on AADHAR.
Hope you understand & include Other OFFLINE Options as provided by SEBI itself (including Offline options that excludes AADHAR too).
Want to open A/c, and it is in the Heading of TOPIC(Intentions).
Hi @VCS You can open the account with current process of Aadhaar verified eSign that is issued by NSDL. This is a fully compliant process.
As mentioned, we have no intentions to enable flow with the Esign format requested by you anytime on foreseeable future. Hope this clarifies.
I don’t think, you want just a trading account. I think you might be more interested in opening a trading account with free kalesh.
Only accounts needing audit is asked for DSC by ITD. Others can validate their return using AADHAR.
To my knowledge no broker has a DSC based account opening flow. Not sure why you are looking for a DSC based flow when much more easier AADHAR based flow exist.
Here i have asked the Legally Valid mode of Esign available for opening the Account… (Esign mitigates reduces paper process and costs too in maintaning paper records,for the broker ).
Class 3 DSC - it can be got without AADHAR,but with PAN & VOTER ID (Voter ID is issued only after Proper Address Verification of Individual), DL, Passport etc as Address proof
Aadhar has Individuals Biometrics & it’s number can’t be changed like Debit or Credit Card (when it is misused). Thus Law it provides, other options of KYC/ESIGN as stated earlier.
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Non-tax audit assesses can even use Bank Account linked mobile number for OTP’S - for Tax filing.
Same for AADHAR based authentication - reduces paper and costs
U can generate and use Virtual Aadhar Number if you concerned about misuse
BUT NUMBER of it or BIOMETRICS can’t be changed… Thus SEBI itself provides other options …
HONORABLE SUPREME COURT of India Deliberating on other aspects of Aadhar (In 2017, they giving Judgement said Aadhar not mandatory, except for linking with PAN & Subsidy) … And recently they said it.
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Time spent on it,spending on it & Judgements pronounced - itself is a Mirror to Validity of the Case & the Contention of Citizens is correct. ’
Each number virtually generated is unique for VID. A new VID can be generated after last one has been used…so what’s the problema ?
If u read this AADHAR is valid for identity check which is what KYC does.
AADHAR has saved lot of time in multiple verticals. Having a single number with all the secure features it comes with is better than many ID cards to identify an individual most often having discrepancy between details in these documents.
If u think AADHAR can be misused then all the other ID cards u have can also be misused. If not AADHAR one needs to provide some other valid ID document for KYC. A digital signature itself is taken after giving valid IDs.
I read in somewhere that Aadhhaar founder share his own aadhaar number publicly to prove that no own can misuse aadhaar number.
Tips to protect misuse
- Lock aadhhaar
- Check aadhhaar useing history from Uadai site.
- Use Mask aadhhaar.
Other Cards has no Biometrics - But Aadhar has.
It would be unwise for any of us to question - the Judgment’s pronounced by Supreme Court of India , as their Judgements is based on ‘Prolonged Discussion’
And Do watch the Movie ‘Agent Sai Srinivasa’, it highlights the probable misuse of Biometrics.
Use this link to lock your aadhaar
https://resident.uidai.gov.in/lock-unlock-aadhaar/en
@VCS First let me clear your doubts. All your insurance, signatures from property documents, biometrics, demographic information, addresses, everything is available online on the dark web.
If you think you will be secure using a DSC, you are delusional. In India, we have no privacy or significant protections. If you have UID, all your details are available in the recent UID leakgate.
You can’t do much nagging here on Dhan. Hold the Govt accountable.
Whatever device u just used to post this is more vulnerable to misuse than the much more secure AADHAR data.