Inactive Account Policy

Objective:

This policy is framed to define the treatment of inactive or dormant client accounts in compliance with SEBI and Exchange regulations. An account will be marked as inactive/dormant if there are no transactions for a continuous period of 24 months in any of the opted exchanges.

Background:

This policy is formulated pursuant to :

  • SEBI Circular No. MIRSD/SE/Cir-19/2009 dated December 3, 2009
  • NSE Circular No. NSE/INSP/13606 dated December 3, 2009

These directives require stockbrokers to implement appropriate mechanisms for handling dormant or inactive trading accounts.

Policy:

1. Definition & Marking of Inactive/Dormant Accounts:

  • A client account with no trading activity (buy/sell) for more than 18 months will be labeled as INACTIVE/DORMANT.

2. Reactivation Procedure:

Clients may request reactivation through the following channels:

a. Physical or Online Submission:

  • Submit a written request or online request to any branch or authorized office.
  • Attach updated documents such as:
  • Address Proof (Aadhaar, Passport, Utility Bill)
  • Identity Proof (PAN, Aadhaar, Passport)
  • Bank Proof (Cancelled Cheque / Passbook / Bank Statement)
  • Financial details (especially for Derivatives segment)

b. Email Request:

  • A reactivation request can be emailed from the registered email ID.

Additional Guidelines:

  • If the client was registered before 2013, a full set of KYC documents must be collected afresh.
  • If registered after 2013, a fresh KRA is required.

3. Accounts Inactivated Due to Risk Management or Regulatory Non-Compliance:

  • A written request or online request with financial documents must be submitted.
  • Reactivation is subject to verification by the KYC/Risk Team and adherence to SEBI, Exchange, and internal policies.

4. Consequences of Inactive Account:

  • On being marked inactive, the client’s funds and securities will be settled.
  • If running account authorization exists, funds/securities will be returned as per settlement norms.
  • Any release request will be honored after due verification.

5. Approval & Review Authority:

  • This policy has been approved by the Board of Directors of Enrich Financial Market Pvt Ltd.
  • The policy shall be reviewed as needed due to regulatory updates or internal business requirements.

6. Policy Communication:

  • This policy shall be made accessible to:
  • Risk Department
  • Compliance Officer
  • KYC/Client Registration Team
  • Authorized Persons/Sub-brokers
  • A copy will also be hosted on the company's official website.
Enrich money logo