What is a Power of Attorney (PoA) Authorization?
From September 1st, 2022, DDPI will replace PoA. Existing PoAs shall continue to remain valid till revoked by the client.
A Power of Attorney (PoA) authorization is a legal document executed by one/more persons giving authority to one/more other persons to act on their behalf.
In the capital market, a PoA is executed between a client (you) and their stockbroker (Geojit). It gives the stockbroker limited authority over activities in your account. When you sell shares, this document gives your broker the right to debit these shares from your demat account in order to deliver them to the buyer.
Since it is a legal document, a physical PoA Authorisation form must be signed and submitted to Geojit, as we do not accept soft copies.
Why is PoA needed ?
To establish a secure and seamless trading experience, it is compulsory to submit a 3-in-1 PoA in favour of Geojit as this is the document that gives us the authorisation to debit your bank account when you add funds to your trading account and to debit shares from your demat account for sell transactions.
If you do not wish to submit a PoA form, you can sell shares using:
1. Delivery Instruction Slips (DIS)- Booklet provided at the time of account opening.
2. Electronic-Delivery Instruction Slip (e-DIS) facility available on our trading platforms.
Still need help? Create Ticket
