A Demat A/c is an account in which one can hold shares, securities, etc., in electronic form. It is a dematerialized account. This account enables one to keep a record of all the transactions made by an individual regarding the purchase and sale of shares, mutual funds, bonds, etc.
What is BO ID?
Let us understand what is BO ID. For investment in stock markets in the digital mode, you need a kind of code. Your sixteen-digit CDSL-registered Demat A/c no. is a BO ID (Beneficial Owner Identification Number). A welcome letter with all the account information and the BO ID is sent to the customer who opens a Demat A/c with CDSL. For each financial broker, this varies. The first eight digits of the BO Id comprise DP ID, and the remaining eight digits comprise Unique Client Id.
For example, if a person's DP ID is 12049200 and their Unique Client ID is 01830421, their BO ID will be 1204920001830421. All the current assets in that Demat A/c are validated for sale when you confirm using TPIN associated with that Demat account.
A log-in is created for the new account [BO ID] when it is activated in the CDSL system with a valid email ID. The initial "log-in ID" would be the 16-digit BOID. The BO will receive an email from CDSL confirming automatic, easy registration (on the email ID entered in the CDSL system).
BO must create a Transaction PIN (TPIN). It will be generated for the first time by providing an option from CDSL, and BO must keep in mind this TPIN, which will be used for all transactions authorization. TPIN will be triggered 6 minutes after CDSL generation. And will be effective for 90 Days. If BO forgets, he can regenerate anytime, but activation takes six minutes after generation.
How to Find The BO ID?
Different brokers have different websites or accounts through which we can find our Bo ID by logging into them through the system or mobile app. The general steps listed below can be used to locate the BO ID.
Upon logging in, go to account and select Demat. DP ID + BO ID is the 16-digit number listed under the Demat ID subheading. This is how to find BO ID.
How to Find DP ID & Demat A/c no.
Now that we have understood what is our BO ID let us understand how to find my DP ID. Every Demat A/c has a 16-digit A/c no. given to the Demat account holder by the Depository Participant (DP). The depository will send the user an acceptance letter containing all the account information, including your Demat A/c number, when a Demat A/c is opened online. The Demat A/c is frequently referred to as the BO ID while addressing the CDSL.
Whether the NSDL or the CDSLhas been used impacts the Demat A/C format. For CDSL, the Demat A/c begins with "IN" and a 16-digit numeric code, but for NSDL, it begins with "IN" and requires a code of fourteen digits. For example, the A/c no. for a CDSL would be 0134562789187737, while the A/c no. for an NSDL would be IN01345627891838.
What is a Depository Participant (DP)?
Agents of the Depository are known as DP. DP is a link between investors and stock exchanges and typically brokerage companies, financial institutions, and banks. The relationship between the depository and the DP is governed by the requirements of the Act on Depositories (1996). Only after receiving a registration certificate from SEBI is a DP able to provide depository-related services.
How To Find Demat A/c no. & DP ID
In the instance of CSDL, your Demat A/c no. will be stated in your welcome letter as a sixteen-digit BO ID, for example, 1234567890123456. Your Demat A/c no., if the NSDL opened your account, will be an ID with fourteen digits and the letters "IN," for instance, IN78385774811234. You may find your Demat Account Number in the transaction details whenever you make a transaction from your trading account.
It's critical to comprehend DP ID's components and applications. The DP ID is a portion of your Demat A/c no., to put it simply. The DP with whom you have the Demat A/c has been given ownership. On the other hand, a Demat A/c no. is the ID given to you by the DP.
How is a Demat A/C different from a Depository Participant (DP) Identification (ID)?
The DP ID and your Demat A/c no. are not the same, nor do they relate to the person holding your Demat account. A brokerage company or a bank is one example of a depository participant. The NSDL and CDSL assign them a number called a DP ID.
An individual's DP ID and customer ID are combined to create their Demat A/c no. In most cases, your DP ID is the first eight characters of your Demat A/c no., and the customer ID of the account holder is the final eight characters.
BO ID is thus the A/c no. provided to you when you open a Demat A/c with CDSL. It can be considered the main controlling number, just like a bank account. This no. is required for dealing in securities in dematerialized form. We hope that the above article has clarified your concepts about What is BO ID in CDSL, how to find my BO ID, How to find my DP ID, etc.