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.
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