As per the recent SEBI circular, payments for minor investments can be accepted through the minor's bank account, their parent or legal guardian, or from a joint account held by the minor and their parent or legal guardian.
Owing to system implementation issues at BSE's end, the AssetPlus operations team will assist in creating the minor account at NSE.
Fill out the below form to activate the minor account:
https://forms.gle/NaE8SzNkSN4mVxJP9
Required Mandatory documents for processing:
1. clear copy of the Birth certificate of the minor
2. valid bank account proof: minor under guardian account or only of the guardian/court-appointed legal guardian or only minor bank account (cancelled cheque or passbook front page or 3 months latest bank account statement is a valid bank account proof).
To activate the account, the guardian will receive an email containing the above details to review and complete the process by doing an e-sign.
NOTE: The guardian's bank account is currently limited to minor account purchases. However, if the client wishes to make redemptions in the future, the bank account must be updated to a minor-under-guardian account in both the folio and NSE systems.
The guardian registered for the minor account must be a father, mother or a court appointed legal guardian.