What is In Person Verification (IPV) and why is it needed?

What is In-Person Verification (IPV) and why is it needed?

In Person Verification (IPV) is a mandate issued by SEBI as mentioned in this circular. It is done to ensure that stock brokers can verify the true identity of the applicant along with verifying the authenticity of the documents submitted. It helps prevent fraud and potential unauthorized activities using your personal details. It ensures that the account opening function is not outsourced to anyone. In Person Verification (IPV) is required if your KYC is not registered with any KYC Registration Agencies (KRAs). If it is already registered, then IPV is not compulsory.

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