2-factor authentication deadline for demat account holders ends today: All you need to know

In June, the National Stock Exchange (NSE), in a circular, stated that to keep their accounts active, members will have to activate 2-factor authentication using knowledge/possession factor and biometric authentication.

Published on: Sep 30, 2022, 10:03:30 IST

By HT News Desk, New Delhi

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If you are a demat account holder and yet to enable 2-factor authentication, then you should hurry up. This is because Friday is the last day for demat account holders to enable 2-factor authentication to continue using their accounts.

Also Read: September 30 deadline for Demat account holders to enable 2-factor authentication

In June, the National Stock Exchange (NSE), in a circular, stated that to keep their accounts active, members will have to activate 2-factor authentication using knowledge/possession factor and biometric authentication.

What is Demat?

Demat is a platform for investors to hold their shares and securities – such as mutual funds, bonds, etc. – digitally. Short for ‘dematerialised,’ it is for any individual who wishes to invest in the stock market. To smoothen the process of online trading, an individual's demat account is linked to his/her trading account.

Knowledge, possession and biometric authentication

In knowledge factor authentication, only the user is aware of the verification factor, for example, a password. The possession factor, on the other hand, is done with something that only the user has access to, like a one-time password (OTP).

Finally, biometric authentication, as the name suggests, is done using fingerprint scanning, face recognition or voice recognition.

How to enable 2-factor authentication?

The NSE circular stated that biometric should be preferred in conjunction with either of the other two. The document further ruled that if biometric is not possible, members should use a combination of password/PIN with OTP/security token.

Here's how to activate the verification, as per ICICI Direct:

(1.) Go to the profile section of your demat account.

(2.) Now, navigate to the Password/Security option and click on 2-factor authentication.

(3.) You will receive an OTP/password on your email id.

(4.) Enter the OTP/password. Also, you may be asked to input your fingerprint, or you may have to scan a QR code to add to the account.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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