How to invest safely and responsibly2 min read
Who would’ve thought, 30 years ago, that investing could be at the tip of our fingers? Convenient? Of course. But we also have to be careful.
Here are some best practices that investors need to follow:
Tracking and protecting your demat account
- Register on CDSL’s Easi portal to monitor your demat account. You can also register for CDSL’s SMS Alert facility – SMART to obtain alerts for debits, pledge creation, change in nominee etc.
- Do not share login credentials of demat account, Easi, Easiest, e-DIS, etc with anyone. Keep unique and strong passwords and change the password at regular intervals.
- Do not share One Time Passwords (OTP) received from us or CDSL.
- Inform us about any change in the personal information (such as Bank Account details, email ID, Mobile number) linked to your demat account.
- Do not download any unknown applications on your phone, laptop or any other device. There is a risk of such applications accessing your confidential data.
Reporting unauthorized transactions
- If you receive an SMS/email for a transaction not executed by you, do inform us or CDSL immediately.
- You have the option of freezing the Demat account if you haven’t used it for a long time.
- Before granting Power of Attorney (PoA) to anyone, to operate your demat account, carefully examine the scope & implications of powers being granted.
- Ensure that you receive your holding and transaction statements periodically. You are entitled to receive a transaction statement every month if you have any transactions.
- Check your demat account statement on receipt. In case you notice any unauthorized debits or credits, contact your us for clarification. If not resolved, you may lodge your complaint by visiting www.cdslindia.com > Post Your Grievances (https://www.cdslindia.com/Footer/grievances.aspx).
You can read the CDSL’s circular (dated July 20, 2022) on this subject here. Remember, create wealth carefully!