The National Stock Exchange of India Limited on 26th July 2021 has published the Guidelines for online closure of trading accounts. The request for account closure shall be done only through web portal / app of the trading member through secured access by way of client specific user ID and password (in case of internet clients) and the request send through emails, SMS, other messaging apps, etc. shall not be entertained by the trading member.
Online requests for closing of trading accounts shall be made available for the clients who have opened their accounts offline or online, by those trading members which provide facility of opening account online and provide various services to their clients in online mode.
Once the application for closure of trading account is received, the member shall intimate to the client on registered email id and / or mobile number about the receipt of closure request and shall not permit any further requests for execution of trades by the client. A confirmation regarding the application submitted, shall be sought from the client by way of OTP sent on the email id and/or mobile number updated in its source account (to be closed account) at the time of closure of the trading account.
The Trading Member shall maintain and store system logs of the closure instructions and e-signed electronic requests (uneditable) received in electronic form in a secured manner and the same shall be subject to 100% internal audit.
