What is the Client Master Report
The client master report or the CMR is a kind of authentication or certification that is issued by your depository participant giving basic and critical details pertaining to your demat account. These are the documents that you have submitted to the broker / DP at the time of opening the trading-cum-demat account. The DP sending such a client master report digitally is a valid document for various purposes as we shall see later.
Concept of client master report
Before we get into the applications of the client master report or CMR, let us first look at the concept of the client master report (CMR). The client master report is a kind of client master list that certifies that the documents submitted by you at the time of opening the demat account are genuine and certified and verified by them. This is a required document in a number of places and also has legal validity.
The client master report has a number of applications. For example, in case you are mapping your demat account to the trading account with a different broker, then the broker where you open the trading account may insist on a client master report issued by your DP, which acts as a confirmation for mapping your name, mobile number, address and your official bank account. Secondly, the client master report is also useful when it comes to mapping unlisted shares or shares of certain categories of companies or even off-market transfer of shares.
The client master list or CMR is also useful when it comes to transfer and transmission of securities. In these cases, the client is legally bound to submit a copy of the client master report to the statutory body to give effect to the transmission of shares or even in case of transfer by relatives. Normally, the customer can apply for the client master report or CMR online by logging into their online portal and the requisite documents are sent across to your registered email id.
The client master list typically includes four sets of information with proofs. The client master list will give details of proof of communication address, PAN identity, signature and photograph. Here it must be remembered that such client master reports or CMR are typically sent digitally. However, in some cases such digital reports may not be acceptable in which case the client can approach the broker where the trading cum demat account is opened to get a signed physical copy of the client master report.
Uses of Client Master Report
As stated, the client mater report or CMR is intended to provide a documented proof of any of the four documents like proof of address, proof of PAN identity, proof of signature and proof of photograph identity. Such CMR is insisted in case of unlisted companies, off market transfer of shares, transfer of shares from one DP to another or even for transmission upon the death of a relative who has bequeathed shares to you. In all such cases, the legal rules insist adequate proofs furnished by the client master report.
How to view your client master report online
The CMR demat or the CML demat, as they are popular called, can be accessed and downloaded online. This can be done from your computer by logging into your trading account in the browser or even by using the mobile app. Once you authenticate yourself by providing the user name, password and the second level authentication, the online DP interface will allow you to download any of these four documents viz. proof of address, proof of PAN, proof of photograph and signature proof digitally. Normally, the client master report that you specifically ask for will be directly sent by email to your registered id.
Frequently Asked Questions Expand All
It is very simple. You just need to access your online trading and demat account by authenticating your credentials and the CMR will be sent to your registered email id.
It is possible to get a signed copy via post, although it will entail a higher cost. The simpler method is to download it digitally since it is very popular and widely accepted for most purposes.
There are no charges to download the digital report once. However, brokers do charge if you download it multiple times or insist on a signed physical report. In such cases, there could be service charges.
The client master list is useful for specific transactions like off market transfers, dealing in unlisted shares, transmission of shares etc. Even when you need to map a trading and demat account from different service providers, the client master report is essential.