From March 31, 2005, individual investors, investing over
Rs100,000 at a time will be required to provide 'unique
identification number' (UIN) as per Securities and Exchange
Board of India (SEBI) guidelines.
UIN would facilitate the introduction of its proposed
'market participants and investor database' (MAPIN)
in an attempt to introduce investor identification.
For corporates, institutional investors and mutual funds,
a MAPIN number has already been made mandatory for investing
in securities including mutual funds since December
MAPIN scheme envisages each investor acquiring a UIN
based on the biometric system that is a mix of
physical and biological attributes of the individual.
This includes fingerprints along with the photographs
of the person. Fingerprints will be live scanned, photograph
captured and signatures scanned, as part of the application
step towards investor protection, a MAPIN will be mandatory
where the minimum stipulated amount of cash transactions
of securities is Rs1 lakh and for day traders, if the
value of a one-time trade exceeds Rs1 lakh. Eventually,
in addition to corporates, mutual funds and institutional
investors, even individual retail investors will need
their own individual MAPIN.
is an initiative by SEBI to track and prevent undesirable
transactions in the securities markets, thus improving
safety for genuine investors. To educate and assist
investors in acquiring the UIN, JM Financial Mutual
Fund (JMF MF) has organised a number of road shows in
association with authorised depositary participants,
in prominent investor locations.
road shows, called MAPIN Mela will be held in
Mumbai: January 22, 23, 29 and February 5,
Delhi: January 17,
Kolkata: January 22,
Chennai: January 22, 23, 28 and 29,
Bangalore: January 22, 23, 29 and 30,
Hyderabad: January 21 and 22,
Coimbatore: January 21 and 22,
Pune: January 29 and 30,
Surat: February 4 and 5,
Baroda: January 20 and 29
MF will set up camp offices at various locations in
all these target cities to educate investors in understanding
the procedures and logistics required to obtain the
UIN and also to facilitate the actual
registration process. Investors will be required to
carry a demand draft of Rs300 as registration fee and
fill a registration form to obtain the UIN.