Guidelines for Individual Investors

General Guidelines:

  • Registration and onboarding of investor/corporate investor is the first step to participate in online bidding system.                
  • Access to the transactional portal is limited to only registered users and have multifactor authentication
  • Two-factor authentication is necessary into the system for registration and execution of any transaction/ request.
  • Registered users are required to enter the OTP at the time of registration and execution of transaction.

Registration & onboarding:

  • To register on transaction portal, the investor will submit their general information details i.e. Individual name, mother name, bank account details, IPS availability etc.
  • Upon entering IBAN in bank account field the bank name and its status (conventional or Islamic) will be auto fetched through Raast API.
  • If  Raast API returns account details then request for mobile and email verification will be generated, and OTPs will be send on both mobile number and email IDs provided.   
  • Upon verification of mobile and email IDs investor will select the option of availability of IPS account.
  • If IPS is already available, client will also enter IPS details.
  • In case investor does not have an IPS account at the time of registration, request for IPS account opening will be generated at the time of registration.
  • The bank will verify details submitted by investor on their part.  The banks will respond by any one of the following three actions.
    • Accept onboarding request
    • Reject onboarding Request (Bank will state reason that is mandatory field)
    • Required further action for client (Bank will state details that is mandatory field)
  • If the request is accepted, OTP with login IDs will be shared to the client on its email and cell phone numbers registered with bank.
  • On first time accessing the transaction portal, system will require client to change the password.
  • An investor registered on the portal can also add another bank account with same or other banks in its portal. The registration process for additional accounts will be same as that of 1st registration and can be accessed in the “profile management” menu.