What is the purpose of POA in a Demat Account?
The POA, which stands for Power of Attorney, is a legal document that authorizes someone, as a lawful attorney, to conduct transactions and transfer shares on behalf of the Beneficial Owner or you. The main advantage of having a POA in your account is that you will not need to sign any DIS slips for transactions, and you can easily sell your delivery holding. Additionally, with a POA, you can obtain additional funds for trading by using your existing stock holdings as collateral, subject to the discretion of the Swastika Risk Team. You can obtain the POA form by visiting the following link: https://www.swastika.co.in/downloads#softUp,
selecting "Account Opening and Modification," and then downloading the form from the "Other Important Forms" section at the bottom of the page.