Online Account Opening: eKYC

Modified on Wed, 04 May 2022 at 03:25 PM

I don’t have a PAN number, how do I open an account?

You need a PAN number to open an account with Arihant. You can apply for a PAN card on the income tax website. If you need any assistance, you can always contact us at ekyc@arihantcapital.com .


What do I need to open an account with Arihant?

To open a trading and Demat account online with Arihant you should be a resident of India with 

    A valid PAN

    A valid Aadhaar 

    An active bank account

To make your online account opening process completely hassle-free, we pick up some information automatically from pre-verified sources. To facilitate this,

  • Your mobile number must be linked with aadhar (for online account opening process). 

  • Your Aadhar must be linked with your PAN.



What are the steps to open a trading and demat account with Arihant / How do I open a new account online? 

Glad to see that you want to open an account with us. We promise we will be the best of friends! Just visit https:\\ekyc.arihantcapital.com. Don’t worry, we will guide you every step of the way!


Step 1

Step 2


Step 3


Step 4


Register and verify your basic details- phone number, email id & PAN.

We will verify these details from the KRA database and autofill some information.

If your PAN is not KRA verified, you will need to upload your PAN on DigiLocker.

Fill up the trading account opening form, upload the necessary documentation and e-sign the application.

Your application will be processed and your account will be made live for you to start trading.

 

Why do I need an email ID to open a trading account?

Linking an email id is not only a mandatory requirement as per SEBI, it also makes your life simpler. You receive your contract notes and account statements on the email, you also receive periodic updates and insights about your account and also from our research team.


Do I need to activate my email ID right away?

As soon as you share your email ID during your account opening journey, you get a verification email. We recommend that you check that email and verify your email ID through the link provided in the email right away. However, you can choose to continue with your application and verify the email ID later as well. But you know what?  You cannot finish your account opening process until you verify your email ID. So, it will be great if you do it as soon as you receive the verification email.


I entered an incorrect DOB. What should I do?

It’s okay, these things happen to the best of us. Incorrect birth date will be flagged off with the eKYC team while verifying your documents. They may call you for clarification, You can also reach out to them at 0731-4217272 or ekyc@arihantcapital.com.


What is KRA?

The securities market has centralised the KYC procedure, once you are registered with either of the intermediaries (broker, depositories etc), you need not furnish KYC details elsewhere. Your information gets saved in the KYC Registration Agency or KRA. KRA is registered with SEBI under the KYC Regulations Act of 2011. This helps you finish your application quickly.


Opening a demat account online with Arihant is a hassle-free and paperless process. You only need to provide your Aadhaar and PAN details. Arihant Capital then fetches your personal details from the KRA system to auto-fill your application form through a secure e-KYC system. This makes your account opening process a breeze.

Can I open an account with Arihant if my phone number is not linked to my Aadhar?

You can’t open an online account if your mobile number is not linked to your Aadhar card. Aadhar card is required not only for your address proof but also to make your process hassle-free. We prefill some verified information using the UIDAI database. 
Linking a phone number makes your life easier in many ways, including account opening with Arihant. Why don’t you do it right away? 
Read here for more details

What is DigiLocker? 

DigiLocker is like a digital wallet, you can access your original (verified) documents anywhere without physically carrying them. DigiLocker can be accessed with your Aadhar card details. You can save documents like your driving license, PAN card etc. Arihant uses DigiLocker to pick up your pre-verified documents to make your account opening experience, as smooth as possible! Happy investing!

For more information click here.

How Do I Sign-Up for DigiLocker?

Signing up for DigiLocker is easy and straightforward. You can visit the DigiLocker website or download the app on your mobile phone from Playstore or App Store. Make sure your current number is registered with the Aadhar number.

Step 1: Click on “Sign Up“. Enter your full name, date of birth, and mobile number (registered with Aadhaar). Make a security PIN and enter an email ID.

Step 2: Enter your Aadhaar Number. Once you enter your unique 12-digit Aadhaar number, you will get two options – One Time Password (OTP) or Fingerprint. Choose your option to proceed further.

Step 3: Once the process is done, you will be prompted to create ‘Username’ and ‘Password’. Enter your desired username and password for your “Your Digital Locker” account and click on the Sign-Up button.

After your sign-up is completed, you can get the documents from the issuers or simply store them in your digital locker.


How can I update my KYC details on Digilocker?

You can update your KYC by following these steps.

Step 1: Login/ Signup to the Digilocker website using your personal / Aadhar details.

Step 2: Verify the OTP sent on the registered mobile number.

Step 3: If you are a first-time user on Digilocker, it may ask you to create a username to make your login process more convenient the next time.

Step 4: Click on Issued Documents > On the right-hand side of the Aadhaar document, there will be a 3 dot button; click on that Refresh

Step 5: Give your consent to allow Digi Locker to fetch your KYC details and click on “Update”.

Step 6: Complete the process by entering the OTP you’ll receive via SMS on your registered mobile number.

Congrats! Your Aadhar document is now securely uploaded to your digital wallet.


Why do I need to update my PAN on DigiLocker?

Since your PAN number is not currently NSDL verified, you will need to manually add your PAN to DigiLocker. Updating your PAN card there is a quick process, and this will ease your KYC with Arihant. Several details get picked up from DigiLocker, making your application and its verification simpler.


How to upload PAN on DigiLocker?

Here is the step-by-step Process to Upload PAN on DigiLocker:

Step 1: When prompted, click on the “Go to DigiLocker” button or go to www.digilocker.gov.in, log in with your Aadhar details, and you will see this screen.

Step 2: Click on “Search Documents” and write “PAN” in the search box.

  Step 3: Select “PAN Verification Record”.

Step 4: Enter your details, then click on “Get Document”

Step 5: Then click on “Issued Documents” to see your upload status.

Step 6: Now that you have updated your PAN on Digi Locker, let’s finish your Arihant Demat and trading account opening process. Click here to continue your sign-up process.


My date of birth appearing here is different from what I gave. Why?
Seems like you entered a DOB that isn’t matching with what is on your PAN card. As part of the paperless eKYC process, your DOB is fetched from the PAN database, and it cannot be changed. 


If there is a mismatch between the DOB you provided during the sign-up process, and the DOB on your PAN card, it may delay your application’s approval. Here’s what you can do: you can either get the correction done in the PAN database, or you can contact our support desk at ekyc@arihantcapital.com and our team will help you out.


Where did you get my name?

To make your Arihant experience smooth, we pick up some information from pre-verified sources such as the income tax department and the KRA database. Your name gets picked up from the Income Tax database.


I want to use a different name to open my Arihant account. What should I do?

Name details are picked up as per your PAN. Did you change your name? Please update your PAN details here. There’s no better day to take charge of your finances, why wait? Finish your sign-up process, and our team can always help you update your details later.

Where did you get this address from?

Your address is picked up from pre-verified sources, in this case, Aadhar. This way you don't need to submit any address proofs and your account can be opened in just a few minutes. We want you to start making investments as soon as possible - and reap the benefit of compounding!


Why can’t I change my address? What should I do if I want to update my address?

Your address is picked up from pre-verified sources (Aadhar), this way you don't need to submit any address proofs. Currently, you cannot change your address manually, during your eKYC journey. However, if you still wish to get it changed, our customer service team will be happy to update it for you once your account is opened. 


So let’s continue with your account opening journey right now and correct these later.


Is a nominee mandatory?


No. A nominee is not mandatory. You can select “I do not want to provide a nominee” in the registration process.


However, we highly recommend that you add a nominee. The nomination facility has been designed to ensure smooth transfer of an investor’s wealth, should something happen to the investor.


My nominee is a minor. Are there any additional details required?

If you want to nominate a child, you also need to select a guardian to ensure the child’s best interest. You will be required to submit address proof of the guardian you decide.


Can I do my nomination later?

Absolutely. You can always choose to add a nominee to your Arihant account anytime you desire after you have opened the account. You have to simply provide a nomination form with appropriate documentation of the chosen nominees. In fact, you can also remove a nominee you added earlier. You will need to fill up this form.



What documents do I need to open a trading and demat account with Arihant? 

When you open your account online,  your PAN and Aadhar are already pre-verified. You just need to upload the following documents to start investing:

 

  1. Photograph: You can either upload an existing picture or click one using the eKYC portal.

  2. Signature: You can either upload an existing signature or sign using your system when prompted in the eKYC portal

  3. If we failed to transfer ₹1 to your bank account you will need to upload a bank proof

    1. Cancelled cheque (with your name printed on it)

    2. Copy of bank passbook, Bank Statement (with latest transaction page)

    3. Bank verification letter (On the letterhead of bank)

  4. If you wish to trade in derivatives (F&O), you need to submit income proof, for which you can submit one of the documents: 

    1. Copy of ITR Acknowledgement

    2. Copy of Form 16 in case of salary income

    3. Salary slip

    4. Copy of demat account holding statement

    5. Copy of annual accounts

    6. Net worth certificate

    7. Latest bank account statement for the last 6 months

    8. Any other relevant documents substantiating ownership of assets.

  5. If you have nominated a minor, you will need to upload the address proof of the guardian.

Why do I need to link a bank account. Can I use my UPI account?

Without adding a bank account it is impossible to invest. As per government rules, any investments in the stock markets should be linked to a verified bank account, which should belong to the account holder. Third-party transfers are not permitted to trade or invest in stocks or other securities. All your cash transfers to and from Arihant will happen through the verified bank account(s) only. 

Once you are on board, you can use UPI/Net banking/NEFT/ RTGS  to transfer funds to Arihant Capital for trading.

What is an IFSC code? How do I find out mine?

An IFSC code identifies your bank’s name and branch. It is mentioned in your chequebook, and you can also find it in your welcome kit or email.  

If you still can’t find your IFSC code, you don’t need to worry. All you need to do is, go the bank details step, choose your branch’s city and the list of branches will be auto-populated on the system. Select the branch in which your bank account is mapped and the system will automatically add the IFSC code of your branch.


Why are you transferring ₹1 to my account?*

A transfer of ₹1 technically known as “penny drop” allows us to validate your active bank account without any documentary proof. This makes your account opening process smoother and quicker. 

If the account is invalid or if there is any discrepancy in the data provided, the transfer may fail. So please ensure you add accurate bank details. 


I received an error “Transfer failed, you will need to submit additional documents”. What do I need to do?

A transfer of ₹1 using the “Penny Drop” facility allows us to validate your active bank account without asking you for any documents. This may fail due to a server issue, a data discrepancy or because your account has been made inactive. You will now need to submit a cancelled cheque in the document upload section.

What is running account authorisation (RAA) aka fund and security cycle?

RAA is Running Account Authorization. Here’s what it means to you: you do not need to keep transferring funds to Arihant every time you wish to trade. Your trading account cash can be securely kept with Arihant for a period of upto 90days. You can use this fund for buying any security. You can also withdraw from your Arihant balance during this period. However, after a period of 90 days, Arihant will have to mandatorily transfer the funds to your bank account registered with them. 

By enabling RAA you’re choosing to keep funds in your Arihant balance for the selected settlement period (30/90 days).

What is Intraday trading?

Intraday trading or day trading means buying and selling stocks on the same trading day. When you buy and sell a security in the same trading session, you essentially don’t have any outstanding position left. This means you do not need to take delivery of that stock.


What is a PEP?

A PEP or a politically exposed person is an individual who holds a prominent public position or role in a government body or an international organisation.

What is FATCA, Why is it needed?


FATCA (short for Foreign Account Tax Compliance Act) is a regulation created by the US Government to curb tax evasion by US citizens. 

India has signed a reciprocal agreement with the US government to share information (assets held by US citizens in India and vice versa). Therefore all financial institutions (such as mutual funds) have to identify the citizenship and tax status of their investors and provide the necessary information to the government.

What is Power of Attorney (POA)? Why is it needed? 

With a Power of Attorney (POA) you give Arihant the authorisation to debit your shares from your demat account whenever you sell your holdings. This makes your trading experience seamless and smooth. If you do not provide a POA to Arihant, you will need to authorise every sell transaction through a digital delivery instruction slip, known as eDIS, or submit a physical DIS at your nearest Arihant investment centre. If you would like to make trading faster, allow POA to Arihant.

Why and how do I need to upload income proofs?

When you open your Arihant trading account, the equity cash and the mutual funds segments are activated by default. You can start investing and trading in them instantly. However, since trading in derivatives is risky and is recommended for seasoned traders, additional income proof documents are required by the regulator (SEBI), if the user wants to trade in futures and options. You can upload the relevant proof on the document upload page of your application.

 

What additional documents do I need to trade in derivatives (futures and options)? 

If you wish to trade in derivatives (F&O), you need to submit income proof, for which you can submit one of the documents: 

  1. Copy of ITR Acknowledgement

  2. Copy of Form 16 in case of salary income

  3. Salary Slip

  4. Copy of demat account holding statement

  5. Copy of annual accounts

  6. Net worth certificate

  7. Latest Bank account statement for the last 6 months

  8. Any other relevant documents substantiating ownership of assets.

Why is my location captured with my picture?
Location access is required while taking your snap, during your account opening journey. It is a necessary compliance requirement as per SEBI guidelines. Don’t worry, your information is safe with us, we use bank-grade security.

What is eSign? Is it safe?

eSign is an eKYC service of UIDAI, it allows you to authenticate a digital document with your electronic signature linked to your Aadhar. This is a government-approved process and is very safely used across many organizations. 

This makes your submission fast, easy and paperless. No physical sign and snail mail is required.


I have opened a demat account with Arihant, what next? 


Hurray! You just took the first step towards building your wealth! Our team will verify your documents and connect with you.  In the coming days, you’ll receive an email either confirming that your application’s been approved or asking for a bit more information. If we request a document to verify your identity, we’ll include instructions for uploading your documents securely.
This usually takes around 2 working days. If you can't wait that long, contact the e-KYC team at t 0731-4217272 and ekyc@arihantcapital.com.

Once your account is active, just login to the new Arihant App and start trading! Welcome to an exciting new world of investments.


How long does it take to open my Arihant account? How do I track it?

Your online account can be opened within 30 minutes if all your documents are sufficient for our team to validate your details. In the coming days, you’ll receive messages and emails either confirming that your application’s been approved or asking for a bit more information. If we request a document to verify your identity, we’ll include instructions for uploading your documents securely.
If you wish to track your application, you can also contact our team at t 0731-4217272 and 
ekyc@arihantcapital.com.


I have just opened a trading account with Arihant, how long before I can trade?

Once your account is opened usually it takes 1 day to trade.



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