Demat Account Update: If you do your investment or trading in the stock market. Then this news can prove to be useful for you. Demat account holders have to complete the process of Two-Factor Authentication by 30th September, if you are not able to do so due to any reason. So you will not be able to log in to the demat account.
Was warned in June
In this regard, the National Stock Exchange had issued a circular in June. Now its members have to use biometric authentication as an authentication factor to login to their demat account. On the other hand, authentication can be a knowledge factor.
it is necessary
Biometric authentication uses fingerprint scanning, facial recognition or voice recognition. The same knowledge factor can include password, PIN or any possession factor. Its information is available only to the user. Clients will get OTP through both SMS and E-mail.
NSE said in its circular that if biometric authentication is not possible due to any reason, then users will have to use the knowledge factor. Which can contain Password/PIN, Possession Factor and User ID. It should be used as two-face authentication. Experts say that most stockbrokers are using the second authentication factor. This does not include the password.
30 september is the last date
In this regard, the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have cited the 2018 circular of the Securities Exchange Board of India (SEBI). There is such a difference in this circular regarding authentication factors. Hence NSE has made two-factor authentication mandatory for login from 30th September.
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