Mandatory for new registrations
Is the Aadhar Card necessary for NISM Certifications and CPE?
The National Institute of Securities Market (NISM) issued a press release today stating that registering on its Online Certification Portal will require an Aadhar Card Number, as well as an Aadhar Card, Scanned Image. Until now, the only mandatory document required for registering for NISM Certification Examinations and Continuing Professional Education (CPE) Programs was a Permanent Account Number (PAN Card).
NISM has made several changes to its Certification Portal in addition to making the Aadhar Card required. NISM will now manually validate all new registrations made on the NISM Certification Portal by validating the information given by candidates. This aligns with the SEBI’s demand for KYC and eKYC in capital markets. On its website, NISM also stated that such manual clearances will be completed in a timely manner, with a maximum of three working days. This would result in a three-day maximum waiting period before anyone could schedule their NISM Exam or CPE.
* Mandatory for new registrations or Existing users
Existing users who are already registered on the NISM Certification Portal, however, do not appear to be required to upload their Aadhar details right away. Existing users will continue to have access to the certification portal and will be able to schedule exams and CPE programs, make online payments, download study material, and so on. Existing users must still comply by uploading a scanned image of their Aadhar Card and their Aadhar number when editing their profile. NISM also stated that existing users who do not provide their Aadhar details will not be issued NISM Certificates, which are required to do business in the capital market.
It is unclear if NISM would fully adopt the current KYC rules, including eKYC processes. However, making Aadhar Card mandatory at this stage may not be the wisest decision given the Supreme Court panel finding in 2015 that “the Aadhaar card Scheme is fully voluntary and it cannot be made mandatory till this Court finally decides one way or the other”.
According to the SEBI (CAPSM) Regulations, 2007, NISM Certifications are required for all capital market participants. Since then, NISM has launched a number of Certification Examinations and CPEs in areas such as currency derivatives, equity derivatives, mutual fund distributors, registrar, and transfer agents, investment advisers, securities operations, risk management, merchant banking, etc.
Iexamworld is an online study portal that offers both free demo and Premium mock test papers https://www.nism.iexamworld.com/ to help candidates pass NISM Certification Exams.
iexamworld studied the all above changes and has prepared Frequently Asked Questions (FAQs) for candidates.
I do not have an Aadhar Card. How can I apply for NISM Certification Exam?
Sorry. You will not be able to register for any NISM Certification Exams or CPE Programs.
I registered with NISM a few years back Can I keep using NISM Portal?
Yes. You can keep your access, plan examinations and CPEs, and take exams. You will not get NISM Certificate until you upload your Aadhar Card.
How will I know if my NISM Registration has been approved?
NISM will notify you via email and SMS if your NISM Account has been approved or denied within 3 working days.
What is the procedure for adding my Aadhar Card to my NISM account?
If you are a new user, you must register at https://certifications.nism.ac.in and upload your Aadhar Card.
If you are an old user, please log in to https://certifications.nism.ac.in and click “Edit Profile” to upload your Aadhar Card.
I am not able to upload my Aadhar Card to my NISM Certification Account. What should I do next?
You should call the NISM Certification Helpdesk at +91-8080806476 to get help with your certification. If you need this service from Monday through Friday, you can get it from 09:30 am to 05:30 pm.
Can I submit my Aadhar Card information to a NISM Test Center in my city?
No. You must submit your Aadhar details online via the NISM Certification portal at https://certifications.nism.ac.in.
I have added my Aadhar Card and PAN Card to my NISM Account. However, I have not received my NISM Certificate. What am I supposed to do?
You should call the NISM Certifications Helpdesk at +91-8080806476 to get help.