Master Circular on 'Account Opening' - Version 1 - NSDL

point nos. 1.1.2 and 1.1.3], as POI and Proof of Address(NSDL/PI/2004/2117 dated November 25, 2004).1.1.10 100% verification needs to be carried out in respect of account openingby the Concurrent Auditor of the Participant. The Concurrent Auditorshould conduct the audit in respect of all accounts opened during theday, by the next working day. In case the audit could not be completedwithin the next working day due to large volume, the auditor shouldensure that the audit is completed within a week's time. Participantswould be required to appoint a firm of qualified Chartered Accountant(s)or Company Secretary(ies) or a Cost and Management Accountant,holding a certificate of practice for conducting the concurrent audit.Participants in case they so desire, may entrust the Concurrent Audit totheir Internal Auditors. (NSDL/POLICY/2006/0021 dated June 24, 2006,NSDL/POLICY/2007/0017 dated March 22, 2007 andNSDL/POLICY/2009/0020 dated March 16, 2009).1.2 Individual:1.2.1 Account Opening for Individual:I. The applicant should fill up the KYC Application Form (Part I) andAccount Opening Form (Part II) as per the format given in AnnexureJ of the Business Rules of NSDL and submit the same to theParticipant alongwith the agreement (as per Annexure B of NSDLBye Laws) duly executed on a stamp paper of appropriate value tothe Participant. Further, the Participant shall be responsible indeciding the value of the stamp paper. The schedule of fees to becharged by the Participant to the Client should form a part of theagreement.II. The applicant should submit any one of the documents as mentionedin point nos. 1.1.2 and 1.1.3 above, as a valid proof of identity andproof of address.13