Grip has obtained the Online Bond Platform Provider (OBPP) license from SEBI, which allows us to offer listed, rated fixed-income options like corporate bonds and securitized debt investments (SDI) to users for investment. With this license, Grip has integrated the Request For Quote (RFQ) system of payment introduced by SEBI, which makes bonds and SDI investments easier, faster and more secure.
To enjoy the benefits of RFQ, all our existing users are required to complete 4 simple and easy steps of the additional KYC processes mentioned below:
Since the user has already completed the KYC with Grip, she/he will not be required to upload the PAN and AADHAAR again. Instead, pre-filled details will be shown and the user needs to verify the same.
In step 2, details related to the investor’s financial information, including Bank Account Number and IFSC Code, will be pre-filled. However, the user can change the account details at this step if required. Please note that this must be the bank account through which you intend to make investments on Grip.
Similarly, if previously shared with us, Demat account details will be fetched from the previous KYC, and pre-filled details will be available. The user needs to verify the details and proceed.
NOTE: If you have invested only in LLP deals (Leasing or Inventory Finance) and want to start investing in Bonds and SDIs, you must upload the CMR/CML copy of your demat account.
The information required in other details, including gender, occupation, nationality, gross income, marital status, and mother’s maiden name, will be pre-filled to the extent available with us or Digilocker/ SEBI registered KRAs. The user will be asked to fill in only details not fetched from KRA. The user can verify the pre-filled details and click to proceed.
In the last step, the required nominee details like the nominee’s name, date of birth and email address will also be pre-filled for the existing users. The user will be asked to fill in only those details we did not ask for earlier in the previous KYC. The nominee cannot be less than 18 years old. The user can verify the details and proceed.
Finally, the E-Sign process will be initiated, wherein the user will be required to E-Sign the form using an AADHAAR number and one-time OTP. After the E-Sign, the additional KYC will be completed.
Once the additional KYC process is completed, the user will be registered with the exchange and a unique client code will be generated by the exchange. Please note that the exchange will use this code for all future communication with the user.
Additional KYC is needed to ensure that users can get the benefit of the Request For Quote (RFQ) system. With the RFQ system, users will be able to directly purchase bonds and SDIs on the exchange, reducing the time taken in the execution of the transaction. Not only this, the transaction will be executed through an exchange-backed secured payment gateway that follows the ISO-certified internal processes. The RFQ system will help users with:
NOTE: Please note that there will be no changes in the existing investment of the users and they will keep getting their returns as per the pre-decided schedule.
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Disclaimer - Investments in debt securities are subject to risks. Read all the offer-related documents carefully. The investor is requested to take into consideration all the risk factors before the commencement of trading. This communication is prepared by Grip Broking Private Limited (bearing SEBI Registration No. INZ000312836 and NSE ID 90319) and/or its affiliate/ group company(ies) (together referred to as “Grip”) and the contents of this disclaimer are applicable to this document and any and all written or oral communication(s) made by Grip or its directors, employees, associates, representatives and agents. This communication does not constitute advice relating to investing or otherwise dealing in securities and is not an offer or solicitation for the purchase or sale of any securities. Grip does not guarantee or assure any return on investments and accepts no liability for the consequences of any actions taken based on the information provided. For more details, please visit https://www.gripinvest.in/.
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