The National Stock Exchange (NSE) has issued a notification regarding the Display of Details of Client Bank Accounts on the Website. The notification was issue on 27th January, 2023 and shall be complied by 15th March 2023.
The notification advises members to display details of all their active client bank accounts on their website which are reported to Exchange, on Enhanced Supervision of Stock Brokers. This intends to bring greater transparency in the dealings between the clients and the stock brokers and foster investor awareness.
The website shall display the following details of client bank accounts:
- Name of Bank Account,
- Bank Account number,
- IFSC and
- note stating “Investors are requested to note that Stockbroker (name of a stockbroker) is permitted to receive/pay money from/to investor through designated bank accounts only named as client bank accounts. The stock broker (name of stock broker) must also disclose this client’s bank accounts to Stock Exchange. Hence, It is requested to use the following client bank accounts only for the purpose of dealings in your trading account with us. The details of these client bank accounts are also displayed by Stock Exchanges on their website under “Know/ Locate your Stock Broker”. Further, based on the details of Bank accounts provided by members under Enhanced Supervision, Exchange shall also display the details of Client Bank accounts of members on Exchange’s website under “Know/ Locate your Stock Broker”.
