Are there different types of Power of Attorney?

asked Monday, May 28, 2018

Yes, you could give power of attorney (PoA) for:

Specific or limited purpose PoA
General purposes PoA

The limited power of attorney for demat account is given to the broker for specifically following 2 purposes:

Transfer of securities for margin purposes (When you pledge share for margin against shares)
Settlement of trades done through recognized stock exchanges i.e. BSE, NSE (when you sell shares)

The general purpose PoA is usually given to family members to operate your demat account on your behalf. This gives same access to your account as you have it.

Get more detail about Demat PoA:

Power of Attorney for Demat Account - Explained with Examples and FAQs
How do I safeguard my Demat Account with Power of Attorney to Broker?
Are there different types of Power of Attorney?
What is the validity of my Power of Attorney for demat account?
Are there any charges associated with Demat Power of Attorney?
Does broker allows time bound Power of Attorney for Demat Account?
Should Power of Attorney be printed on the Stamp Paper?
Can I sign Power of Attorney online?
Can a Broker misuse the Power of Attorney?
Can a Broker withdraw money from my linked bank account using the Power of Attorney I gave?
Can I use Broker Pool Demat Account to keep my share and do not give Power of Attorney?
Can I trade in Futures and Options without Power of Attorney to my Demat account?
My signed Power of Attorney is still in courier. Can I still trade?

answered Monday, May 28, 2018

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I am not a frequent trader on stock exchange. What should I do with Transaction Statement?
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How do I safeguard my Demat Account with Power of Attorney to Broker?
Are there different types of Power of Attorney?
What is the validity of my Power of Attorney for demat account?
Are there any charges associated with Demat Power of Attorney?
Does broker allows time bound Power of Attorney for Demat Account?
Should Power of Attorney be printed on the Stamp Paper?
Can I sign Power of Attorney online?
Can a Broker misuse the Power of Attorney?
Can a Broker withdraw money from my linked bank account using the Power of Attorney I gave?
Can I use Broker Pool Demat Account to keep my share and do not give Power of Attorney?
Can I trade in Futures and Options without Power of Attorney to my Demat account?
My signed Power of Attorney is still in courier. Can I still trade?
How can I get dividends directly to the bank instead of the cheque? Is there any online application?
Can I add another person to my demat account?
Why do I need a demat account?
Is demat account required for SIP?
What is the differences between NSDL and CDSL?
Does any stock broker offer CDSL Easiest facility?
Can I transfer shares from CDSL demat account to NSDL demat account?
What happens if I do not pay AMC for a demat account?
Can I open Demat Account without PAN Card?

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