- Getting started
- Paperless account opening
- Bank Details
- Documents required
- How to sell shares without a physical POA?
- Submitting required documents
- Mandatory hardcopy of POA
- Why POA is required
- Updating POA
- Change of mobile or email
- Change or update address
- Bank account proof
- Authorisation letter for ECC
- Documents accepted as income proof
- Performing in-person verification
- Unable to click NEXT button on document upload
- Brokerage and account opening charges
Why POA is required
POA stands for Power Of Attorney.
It is a limited level of permission that you can give to the broker so that they can process your transactions with the exchange in a smooth and seamless manner.
Power of Attorney is required so that the broker can debit shares from your demat account and submit those to the exchange. It is a permission from the client that enables the broker to process sell of shares.
Without a specific Power of Attorney, the broker will not be able to debit shares from your demat account when you wish to sell your shares. Since Upstox is an online broker, a POA is required during account opening in order to keep your information safe and secure.
Here's a sample POA that you can take a look at before filling out the form.