National Identity Number (NID) Made Mandatory for Machhapuchchhre Bank Demat Accounts

Machhapuchchhre Capital Limited and Machhapuchchhre Bank Limited have issued an urgent public notice making the National Identity Card (NID) number mandatory for all Demat (Beneficiary) accounts. This new mandate follows a direct regulatory circular (Letter No. 11, Invoice No. 3206) issued by CDS and Clearing Limited (CDSC), which oversees depository services in Nepal.

According to the joint statement, any individual looking to open a new Demat account through Machhapuchchhre Bank or Machhapuchchhre Capital must provide their valid National Identity Card (NID) number during the registration process. Furthermore, the directive strictly applies to existing account holders as well. All clients who opened their Demat accounts prior to this announcement are urged to update and link their NID numbers to their respective accounts as soon as possible. Account holders can contact the central or branch offices of Machhapuchchhre Capital or Machhapuchchhre Bank to complete the verification and maintain uninterrupted demat services.