Frequently Asked Question

As per the SEBI circular (WEB), Clients of Special Category (CSC) are required to provide income proof when opening an account or completing the Re-KYC process as part of enhanced due diligence. CSC includes the following categories of clients:

• Non-resident Indian (NRI) clients

• High-net-worth individuals (HNIs)

• Trusts, charities, Non-Governmental Organizations (NGOs), and organizations receiving donations

• Companies with close family shareholding or beneficial ownership

• Politically Exposed Persons (PEPs). To learn more about PEPs, see "Who is a politically exposed person?"

• Clients publicly known to have questionable reputations

Income proof can be one of the following:

• A bank statement from the last 6 months with the bank logo and seal in the Upmove account holder's name, showing an average balance of over ₹10,000

• Latest salary slip with a gross monthly income exceeding ₹15,000

• Latest ITR acknowledgment with a gross annual income exceeding ₹1,20,000

• Latest Form 16 with a gross annual income exceeding ₹1,20,000

• Certificate of net worth exceeding ₹10,00,000

• Latest statement of demat holdings with a current holdings value over ₹10,000