IPV Full Form in the Share Market
IPV Full Form in the Share Market
IPV Full Form: In-Person Verification (IPV) is a process used in the share market to ensure that the individual opening a Demat or trading account is indeed the person they claim to be. It involves verifying the account holder’s identity and documents. Thanks to evolving regulations, brokers can now conduct IPV through video as well. If you’re opening a joint account, each account holder needs to complete the IPV, and this is done using the mobile number provided during the KYC (Know Your Customer) process.
Why is IPV Important?
IPV is a crucial step mandated by SEBI (Securities and Exchange Board of India) to protect both brokers and account holders. By completing IPV, brokers can verify the authenticity of the individual opening the Demat and trading accounts, preventing fraudulent activities. The account holder is required to present valid identity and address proof, like a government-issued ID card. Traditionally, a broker’s staff would visit the client in person for this verification, but with advancements in technology, the process can now be done remotely via video calls. IPV Full Form
How Does IPV Work?
During the IPV process, the client needs to present their original identity and address proof to verify their identity. With modern technology, this can all be done online. The individual just needs to ensure they have the required original documents handy when going through the process.
FAQs about IPV Full Form
What is the full form of IPV in the share market?
IPV stands for In-Person Verification. It’s the process used to confirm that the person opening a Demat or trading account is indeed who they claim to be.
Is IPV mandatory for opening a Demat or trading account?
Yes, SEBI has made IPV mandatory to ensure the authenticity of the account holder and prevent fraud.
How can I complete the IPV process?
IPV can be done either in person or through a video call, where you’ll need to show your original identity and address proof.
Do all account holders in a joint account need to complete IPV?
Yes, all individuals listed on a joint account need to complete IPV using the mobile number they provided during the KYC process.
What documents are needed for IPV?
You’ll need to present government-issued ID and address proof, such as an Aadhaar card, passport, or driver’s license, during the IPV process.
