A Client Master List (CML) is a certificate of your demat account issued by the depository participant of your demat account. It contains all the important information such as your:
- Personal details like name, address, Date of Birth
- Linked bank account details.
- Details of your demat account and its current status
- Information about the nominees.
Why is a CML Document Required?
Having access to CML is useful in many ways as it :
- Helps you link your Demat account to a new or different trading account with any broker.
- Provides consolidated information, simplifying complexities.
- Serves as legal proof for transferring your securities.
- And, reduces any manual errors and miscommunication.
What details does CML Reflect?
A)First, let’s talk about the basic identifiers in your report:
- DP ID: This is a unique number NSDL or CDSL gives to identify your depository participant.
- Client ID: A unique number assigned to you by your broker.
B)Next, we have the status of your account:
- Account Status: Shows if your account is active or inactive.
- Account Opening Date: The date your Demat account was opened.
- Account Closure Date: The date your account was closed, if applicable.
C)Moving on to Beneficial Owner details:
- BO Status: Indicates if the account holder is a corporate, trust, HUF, individual, etc.
- BO Sub Status: Specifies if the individual is a resident or NRI.
D)Here’s where we look at the type and nationality of your account:
- Account Type: Can be a Regular Demat Account for residents, a Repatriable Demat Account for NRIs allowing fund transfers abroad (This means this is an NRE demat account linked to your NRE bank account), Non-Repatriable Demat Account for NRIs without fund transfer abroad. (This means this is an NRO demat account linked to your NRO bank account)
- Nationality: States if the account holder is a Resident or NRI.”
E)Understanding your statement cycle and freeze status:
- Statement Cycle: The frequency of your DP transaction statements (e.g., monthly).
- Freeze Status: Indicates if the account is frozen, preventing any transactions.
F)Personal and bank details include:
- Personal Details: Names, PAN cards, dates of birth, occupation, addresses, phone numbers, and email IDs.
- BSDA Flag: Shows if the account is a Basic Service Demat Account (BSDA).
- Bank Details: Includes bank name, account type, account number, MICR code, IFSC code, and ECS flag.”
G)Finally, nominee and power of attorney details:
- Nominee Details: Information about the person who will inherit the account. If the nominee is a minor, it will include the guardian’s details.
- Power of Attorney Details: Legal document authorizing a person (usually your broker) to act on your behalf.
For a detailed explanation of the Client Master List check this video.
