What is Client Master Report?

Among the several important documents related to your Demat account is the client master report. A client master report or CMR is a kind of client master list that certifies that papers submitted when opening your Demat account are genuine. CMR has legal validity and has vital details about your account. Let’s dig deep to understand more about it.

What is Client Master Report?

In the financial industry, providing a canceled cheque from a Savings or Current account is common to receive payments. This allows the payer to verify essential details such as the name of the party, bank account number, and IFSC code of the bank branch where the account is held before initiating any payments.

Similarly, the client master report serves the same purpose but for a Demat account. It can be used to verify the details of a share account with a Depository Participant (DP). The CMR report serves as evidence of all the information related to your account, which holds the securities you use for trading.

Information Present in the Client Master Report

Following information is present in this report:

• Depository Participant (DP) ID: A unique 8-digit ID of the broker obtained from the National Securities Depository Limited (NSDL) or Central Depository Securities Limited (CDSL).

• Client ID: Client ID is a unique 8-digit ID you get from your broker while opening your account.

• Account Status: The status of your Demat account denotes whether it is currently active or inactive. As per the Securities and Exchange Board of India (SEBI) guidelines, if a client doesn't engage in any transactions within a year, their Demat account may be classified as inactive.

• Account Opening Date: The date of opening your Demat account.

• BO Status and Sub Status: While the BO status says whether the account was opened as a corporation, HUF, trust, individual, or any other entity, the sub status reflects the sub status of the account holder, such as Resident or NRI.

• Type of Demat Account: This reflects the kind of Demat account you are operating. Generally, there are three types of Demat accounts - regular, repatriable, and non-repatriable.

• Personal Information: This tells about your personal information such as name, PAN number, DOB, Occupation, Postal Address, Contact Details, Email ID, etc.

• Statement Cycle: This section denotes the time frame, you receive the statement of transactions for your Demat account. You can choose the frequency of receiving these reports based on your preference. For instance, if you opt for a monthly frequency, you will receive updates on your transaction status once every month.

• Bank Details: In this section, you can access the bank details associated with your demat account, which include:

• Various types of bank accounts

• Information about the financial institution

• Bank account number

• MICR code

• IFSC code

• Nominee Details: In the event of an unfortunate incident, a nominee is entitled to receive your securities. You can view their name and address information if you have added a nominee to your Demat account. Additionally, if the nominee is a minor, the details of their guardian will also be displayed.

• Broker’s Contact Information: The client master list also provides you with the broker’s contact information. In case of any issues with your Demat account, you can reach out to them using the provided contact details.

Importance of Client Master Report

The client master report contains vital information and serves various purposes, including:

• Acting as a certificate for the Demat Account
• Serving as legal proof of your securities
• Being necessary for transferring shares between demat accounts with different brokers
• Ensuring accuracy and eliminating manual errors as it is digitally generated
• Being a crucial document for off-market transactions and a Know Your Customer (KYC) requirement for unlisted brokers
• Allowing you to link your existing Demat account with a new trading account under a different broker

How Can You View Your Client Master Report?

You can easily view your client master list online. Log into your broker's trading account through either its website or mobile application. After entering your username, password and completing the required second-level authentication, you can navigate to the online DP interface to download the document. The CMR is typically sent directly to your registered email address for your convenience.