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Why does Bajaj Capital ask for bank details while opening account?

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The bank account needs to be mandatory linked with the demat account as per SEBI guidelines. All the earnings from securities like bonuses, and dividends etc., is directly credited to the demat account.

A bank account is linked with an NRI trading account to facilitate a smooth transfer of funds from the bank to the trading account. It also helps RBI identify the source of fundings and money flow from abroad to Indian stock markets. As per RBI guidelines, an NRI can invest in equities on repatriation basis only through NRI PIS bank account. Similarly, mutual fund investments are only accepted in Indian currency.

 

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