Wondering what a Client Master Report is and why is it important for you? Well, by the end of this article you will know why it is one of the most important documents that a trader needs to have.
What is a Client Master Report?
Client Master Report (CMR) is a document that contains all the details of the Demat account holder. It is the most desirable document for doing trades in the off-market.
A Client Master Report contains important information such as:
- Personal details like name, address, and date of birth
- Status & details of your Demat account
- Linked bank account details
- Nomination details
How Client Master Report helps you?
Now that you know what CMR is, you must be wondering what purpose it serves for you, right? The CMR:
- Acts as a certificate of your Demat account
- Is used for linking your existing Demat account with a new or another trading account with any other broker
- Contains consolidated information, making off-market transfers easier for you
- Serves as legal proof of where your securities are intended for transfer
- Ensures there are no manual errors and miscommunication
How to get your hands on this report?
You can get your Client Master Report on your registered email ID directly using our mobile app/web. Follow these easy steps to download your report:
- Visit the ‘Reports’ section
- Go to ‘Transactional Reports’
- From the drop-down menu, select ‘Client Master (DP)’
- Click on ‘Email Report’
- You will get the report on your registered mail
Let’s put a Client Master Report under a microscope.
Take a look at the key details of this report.
- DP ID
Depository Participant or DP ID is the unique number that you will get from National Securities Depository Limited (NSDL) or Central Depository Securities Limited (CDSL).
- Client ID
You will get this unique identification number from your broker.
- Account Status
Account status indicates whether your account is active or inactive.
- Account Opening Date
The date on which your Demat account was opened.
- Account Closure Date
The date on which your account is permanently closed. This date will be mentioned only if your account is closed.
- BO Status
BO Status tells us the status of the account holder. It tells us whether you have opened an account as a corporate, trust, HUF, individual, and so on.
- BO Sub Status
It tells you the sub-status of the account holder. For example, if the account holder’s status is Individual, then his sub-status can be Resident or NRI.
- Account Type
Here you can reference the type of account you have opened. Generally, there are 3 types of Demat accounts:
- Regular Demat Account: It is used by the residents of India.
- Repatriable Demat Account: This Demat account is used by NRIs in which they are allowed to transfer funds abroad.
- Non-Repatriable Demat Account: This NRI Demat account doesn’t let you transfer funds abroad.
This tells you whether the Demat account belongs to the Resident or NRI. In case you are an NRI, the broker needs to follow Reserve Bank Of India (RBI) and Foreign Exchange Management Act (FEMA) regulations.
- Statement Cycle
The time interval at which you receive periodic statements of the DP transactions is known as the Statement Cycle. For example: If you have selected reports frequency to be monthly, you will receive DP transactions statement once every month.
- Freeze Status
An account freeze is an action taken by the regulatory or legal authority and it prevents any transaction from taking place in the account.
- Personal Details
It contains all personal details provided by you like:
- First holder name, their PAN card, and the date of birth
- Other holders names, their PAN cards, and the date of birth
- Correspondence address
- Permanent address
- Phone number
- Email ID
- BSDA Flag
As per Central Depository Services Limited (CDSL), if your account is marked as Basic Service Demat Account (BSDA), the BSDA Flag status will be ‘Yes’ or else it will be ‘No’.
- Bank Details
Here you can see all the bank details that are mapped to your Demat account. Namely,
- Bank name
- Bank A/C type
- Bank A/C number
- MICR code
- IFSC code
- ECS flag
- Nominee Details
A nominee is a person who is entitled to receive the inheritance in case of unfortunate circumstances. If you have assigned a nominee for your account, you will see details such as the nominee’s name and address. If the nominee is a minor, you will see the guardian’s details instead.
- Power of Attorney Details
This is a legal document that allows you to appoint a person to act on your behalf. You have authorized brokers to work on your behalf in order to ease out share movements, so generally, brokers are authorized to work on your behalf. This document will mention your broker’s Master ID, name, reference, and holder position.
Here’s how you can know your Demat account number
Your Demat account number is the combination of DP ID and Client ID.
- If you are registered with CDSL, the first 8 digits will be DP ID and the 8 digits that follow will be Client ID.
- If you are registered with NSDL, the first 2 characters are the letters ‘IN’, then 6 digits of the DP ID, and the last 8 digits will be the Client ID.
Well, here is everything you needed to know about your Client Master Report. This report is a one-stop destination for all details related to your Demat account and is hence, one of the most important documents for all the traders.