Demat Account ALERT: Quickly settle this work related to the demat account, otherwise earning from the market will be stuck
Demat account holders will not be able to log in to their demat account after 30th September 2022 without enabling two-factor authentication.
Demat Account: If you are a Demat account holder and you buy or sell shares in the stock market through a Demat account, then you need to be cautious from now on. Because as per the circular issued by the National Stock Exchange (NSE) on 14th June, the demat account holders must enable two-factor authentication by 30th September 2022. Unless you enable Two-Factor Authentication, you will not be able to login to your Demat account from 1st October 2022. Due to which you may have to face many problems. So all of you should enable Two-Factor Authentication from now on before 30th September.
These things came to the fore in the NSE circular
NSE has said in one of its circulars that account holders can also use biometric authentication as one of the authentication factors to log in to their demat account. Along with this, another way can also be the knowledge factor, under which there should be something in the form of a password or PIN, which is known only to the user. In addition, there may be a possession factor as well. Its access is only with the user.
Let us tell you that one-time passwords (OTP), security tokens, or authenticator apps are on a smartphone or desktop. Customers will get OTP through both email and SMS. In cases where biometric authentication is not possible, the members will have to use the Knowledge Factor (Password/PIN), Possession Factor (OTP/Security Token), and User ID as per the circular. Only then the account holders will be able to log in to their demat account.
How to Enable Two-Factor Authentication in Demat Account
If you want to enable Two-Factor Authentication in your Demat account, you need to use Biometric Authentication with Password/PIN or OTP/Security Token. Thereafter, login to the demat accounts will be allowed using OTP/Security Token along with Password/PIN. After this, Upstox users will have to enter OTP and PIN. On the other hand, in the case of login on mobile, biometrics will have to be used along with OTP or PIN. Along with this, you can install the Google Authenticator app or Microsoft Authenticator app on your mobile and PC to receive TOTP.