Have your DEMAT and MeroShare accounts been renewed yet? If you invest in the capital market, you need to renew your DEMAT account annually. Your share and security assets are stored digitally in a DEMAT account. Each fiscal year, every share market investor is required to renew their DEMAT account.
Any investor can apply online for the primary market or transfer shares using a MeroShare account. Mero Share can be renewed annually whenever you’d want. For instance, if you received your Mero Share ID on Magh 21, 2078, you should renew it on Magh 20, 2079.
What happens if your DEMAT/MeroShare account is not renewed?
According to SEBON regulations, any recipient of securities must renew their DEMAT account annually. If not, their account will remain frozen, making it impossible for them to buy or sell shares. As you renew your DEMAT and MeroShare accounts, your dashboard status will change to “ACTIVE.” When the renewal money is due, you will see the “Frozen for Debit” status.
Methods for Renewing Your DEMAT and MeroShare Account
Capital market transactions are much easier than before because of improved compatibility between digital payment platforms. Recent advancements in payment systems such as digital wallets, mobile banking, and PSOs have enabled customers to choose digital payment methods. Since the fiscal year 2078/79 is coming to an end, this article may assist you in determining the best method for renewing your account.
1. Direct Renewal Through the MeroShare Portal
Step1: Visit meroshare website or mobile app to log in using your MeroShare ID.
Step2: On the Dashboard’s upper right corner, click “MeroShare Profile.”
Step3: Afterward, select the “Renew Account” tab.
Step4: Now, choose which renewal platform is best for you.
Step 5: It will direct you to the payment systems you choose one
Step 6: Next, fill out the recommended payment process and continue with the payment.
2. Pay using online wallets
In Nepal, 18 digital wallets are being used. IME Pay, Khalti, and eSewa are just a few wallets that have a direct connection to the MeroShare platform for their renewal services. They are accessible through MeroShare’s renewal options.
You can still make the payment by logging into your digital wallet and choosing the Capital Market/Finance option from the menu. For instance, eSewa offers a direct choice to renew “MeroShare and DEMAT” on the home screen. To continue with the payment, you can choose your depository participant and then fill out the necessary information. That’s how easy it is!
3. Pay via connect IPS
When paying their buying price to brokers, connect IPS is more frequently used by share investors and traders. In addition, DEMAT renewal services are also helping it gain traction. Since it is a payment service provider, you are able to link your bank account and make payments directly from it.
4. Mobile Banking
Your internet or mobile banking service is the fourth way to renew your DEMAT or Mero Share account.
All you have to do is sign in to your mobile banking app. Regarding this renewal service, many banks offer their own options. However, the majority of them fall under the payment option for “Capital” or “Financial Markets.” To move forward, pick one of these or other possibilities. Select your broker or capital, enter the necessary information, and then complete your payment.
5. Visit your Merchant Bank’s website
Step1: Go to the website of your depository participant.
Step2: There, look for the “Renew DEMAT” or similar alternatives.
Step 3: Select that option and enter your information. Here’s an example of Global IME Capital’s renewal tab.
Step 4: After you enter your information and click “Submit,” your information will be sent to the mobile banking system of the relevant apps.