Account Opening

Why do I need to submit income proof?

• Punch is an options-only platform, requiring an F&O trading account.

• SEBI regulations mandate submitting at least one income proof for F&O account verification.

Which documents can I submit as income proof?

• You can submit one of five different types of income proofs:

• Bank statement (past 6 months)

• DP statement (past 6 months)

• Salary slips (past three months)

• ITR Acknowledgement (most recent year)

• Form 16B (most recent year)

• We've partnered with OneMoney, an RBI-licensed account aggregator, to automatically fetch your bank or DP statements. One Money is a licensed Account Aggregator which ensures that the financial data is shared over a secure route with end-to-end encryption between intermediaries and user’s accounts.

• If automatic fetching is not possible, you can manually upload salary slips, ITR acknowledgements, or Form 16B.

What is the minimum criteria for Bank and DP statement?

• Bank statement: A credit transaction of at least Rs. 10,000 in the last six months.

• DP statement: Stock holdings worth at least Rs. 10,000 in your current DEMAT account.

How do I submit DP statement?

• Through our partnership with OneMoney, you can fetch your DP statement directly using your Aadhaar number.

• Tap on the ‘DP Statement’ option and continue with the given steps.

• While it typically takes about 30 seconds, server issues at the depository can cause delays.

• Make sure your holdings meet the minimum criteria of Rs. 10,000.

How do I submit bank statement?

• Through our partnership with OneMoney, you can fetch your bank statement directly using your Aadhaar number.

• Tap on the ‘Bank Statement’ option and continue with the given steps.

• While it typically takes about 30 seconds, server issues of the bank can cause delays.

• Ensure your account has a credit transaction of at least Rs. 10,000.

If not DP or bank statement, what else can I submit as income proof?

• If there are issues fetching your bank or DP statement, you have three alternatives:

• Submit your 3-months' salary slips; or

• Most recent ITR acknowledgement; or

• Most recent Form 16B

Can I manually upload my 6-month bank statement?

• No, manual uploads are not available.

• We use OneMoney (an RBI licensed account aggregator) to automate statement fetching, reducing errors and delays.

• To make the process simpler, faster and more convenient for you, we recommend using the auto-fetching feature on Punch.

What if I don’t submit an income proof?

• Punch is an options-only platform, so income proof is required to comply with SEBI regulations.

• However, if you haven’t submitted an income proof, we will still process and activate your equity segment under your Trading and Demat account.

• You will be able to submit your income proof any time in the future to activate F&O segment for trading.