How to open a demat account in a minor's name
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New Delhi, Dec. 10 -- A demat account can be opened in the name of a minor to hold investments across securities, including shares, debentures and mutual funds. A minor is an individual who has not attained the age of 18. The formalities of opening the account and operating it will be conducted by the guardian on behalf of the minor. The guardian will be either the natural guardian, i.e. mother or father, or a court-appointed guardian.
The procedure for opening an account in the name of a minor is similar to that of opening a regular demat account. The standard account opening form has to be used for this purpose. The KYC formalities of establishing identity and address has to be completed for both the minor and the guardian. All the doc...
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