What is in person verification and why is it needed?
All brokers are required to carry out an IPV process for all clients. IPV or In-person verification as the name suggests is a process where the broker verifies the client and his documents in person, as per the Circular set by SEBI.
It is compulsory for every client to go through the IPV before opening a Trading and a DEMAT Account. IPV in the past used to be done physically where an employee of the broker would visit and verify.
Technology now allows the IPV to be done online or through a webcam-IPV.
This could be done either physically or through a webcam process. If the webcam process is selected, an OTP will then be generated and shown on your screen and sent to your registered mobile and email as per the account opening process. The client would be able to begin his/her webcam on a real-time basis and take a video of the OTP.
As real-time IPV is to be done, we would require you to show this OTP from the mobile or written on a piece of paper, so that it is visible on the webcam. The webcam would then take a series of photos from the video to capture the OTP as shown by client correctly for our needs.
If you haven't completed the IPV process, you can do it here