What is the full form of IPV in the Share Market?

The IPV full form in the share market is In-Person Verification. The procedure of confirming that the individual opening the account and the documents supplied are the same person is known as in-person verification (IPV). Brokers may conduct a video In-Person Verification in accordance with legislation. When opening joint accounts, clients must make sure that each account holder completes the IPV using the mobile number listed on the KYC.

Importance of IPV:

The IPV process was made mandatory by SEBI, which makes it simpler for brokers to confirm the identity of the owner of the DEMAT and trading accounts. The account holder must provide specific documentation to validate his identity, such as an identity card issued by the government and proof of address, among other things. Before creating an account, a staff of your broker would personally visit you and verify all of your paperwork as part of the traditional IPV process. This technique can be done remotely, thanks to modern technologies.

What happens during IPV?

In order to verify his identity, the client must provide original identification and proof of address during the process. With the most recent technologies, this procedure can be completed entirely online. The customer must ensure that he has access to the original documentation.