In the financial industry, providing a canceled cheque from a Savings or Current account is common to receive payments. This allows the payer to verify essential details such as the name of the party, bank account number, and IFSC code of the bank branch where the account is held before initiating any payments.
Similarly, the client master report serves the same purpose but for a Demat account. It can be used to verify the details of a shared account with a Depository Participant (DP). The CMR report serves as evidence of all the information related to your account, which holds the securities you use for trading.
Information Present in the Client Master Report
Following information is present in this report:
Depository Participant (DP) ID: A unique 8-digit ID of the broker obtained from the National Securities Depository Limited (NSDL) or Central Depository Securities Limited (CDSL).
Client ID: Client ID is a unique 8-digit ID you get from your broker while opening your account.
Account Status: The status of your Demat account denotes whether it is currently active or inactive. As per the Securities and Exchange Board of India (SEBI) guidelines, if a client doesn't engage in any transactions within a year, their Demat account may be classified as inactive.
Account Opening Date: The date of opening your Demat account.
BO Status and Sub Status: While the BO status says whether the account was opened as a corporation, HUF, trust, individual, or any other entity, the sub status reflects the sub status of the account holder, such as Resident or NRI. Type of Demat Account: This reflects the kind of Demat account you are operating.
Generally, there are three types of Demat accounts - regular, repatriable, and non-repatriable.
Personal Information: This tells about your personal information such as name, PAN number, DOB, Occupation, Postal Address, Contact Details, Email ID, etc.