Leading stock exchange BSE has announced the launch of 'Saral' or simplified account opening form for individual investors in the securities market.
The move is in line with market regulator Sebi's guidelines to facilitate an easy and simplified account opening process for investors entering equity cash market.
"BSE has announced the launch of SARAL Account Opening Form (SARAL AOF) to facilitate an easy and simplified account opening process in securities market," a statement by the stock exchange today said.
The form can be filled by submitting only one documentary proof of address, which can either be correspondence or permanent address. It is available on BSE website for easy access of investors.
The investors who open account through Saral would also have the option to obtain other facilities like Internet trading, margin trading, derivatives trading and use of power of attorney, whenever they require, on furnishing of additional information as per prescribed guidelines.
Earlier this month, Sebi had come out with norms wherein an individual resident investor can open this account through Saral Account Opening Form.
The form can be filled by any resident individual investors who wishes to be a part of the equity market.
"Investors whose current residence is different from the proof of address submitted, need to only give a self-declaration on which all correspondence will be made by the intermediary with the investor," BSE said.
A simplified account opening process comes against the government and the regulator's efforts to attract new retail investors to the market especially for the disinvestment share sales through Offer For Sale (OFS) and other routes.
