"Prevent Unauthorised transactions in your account --> Update your mobile numbers/email
IDs with your stock brokers. Receive information of your transactions directly from
Exchange on your mobile / email at the end of the day .......... Issued in the interest
of investors"
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
"No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."