As per the new exchange rules, it is mandatory to enable time based OTP for logging into the demat account. The deadline to complete this work is by 30 September.
Quickly settle this work related to demat
if you stock market If you do trading in shares, then this news is of your use. Actually, according to the new exchange rules, it is mandatory to enable Time Based OTP i.e. TOTP 2 Factor Login in the Demat Account. The deadline to complete this work is by 30 September. That is, by September 30, authentication of the demat account has become necessary. If this work is ignored, then trading of shares will be difficult from October 1. Let us inform that the National Stock Exchange i.e. NSE had given this information in the circular issued on June 14.
However, the circular does not specify that if a demat account holder does not enable Two-Factor Authentication by the given date, which of the following authentication factors will have to be followed for logging in. Online stock trading platform Upstox Director Puneet Maheshwari said that most of the stockbrokers are using other authentication factors like PIN apart from password. On the other hand, in cases where biometric authentication is not possible, stock brokers can use both password and OTP to enable login for the clients. To get the time based OTP, you have to download any one app from Google Authenticator, Microsoft authenticator, Authy, Last Pass Authenticator or Bitwarden on your PC or mobile. On the other hand, Upstox users will have to enter OTP and PIN, whereas in case of mobile login, OTP or PIN along with biometrics will be used.