Demat account holders are required to enable two-factor authentication by September 30, 2022 or they may end up facing difficulties in logging in to their trading accounts. According to National Stock Exchange (NSE), members shall preferably use biometric as one of the authentication factors to log on to their Demat accounts. The other can be a "knowledge factor" — something only the user knows, like a password or PIN; or a "possession factor".
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Several stock brokers have mentioned it on their websites and have asked their customers to do the same by the end of September deadline.
" It is mandatory to enable TOTP 2Factor login on your account before September 30, failing which, you will not be able to login to Kite," Zerodha said on its website.
TOTP stands for “time-based one-time password”. Unlike a traditional OTP that is delivered via email or SMS, a TOTP is generated by a TOTP app that is already on phone. This TOTP is valid only for a short duration (usually 30 seconds) and is regenerated every 30 seconds.
For Zerodha Kite web, here are the steps to enable two-factor authentication:
Step 1:
Go to My Profile/Settings and then Password and Security
Step 2: Click on Enable 2-Step TOTP
Step 3: Enter OTP sent to registered email address
Step 4: Open any one of the Authenticator apps on a mobile phone
Step 5: Select scan a QR code under the Add an account option and click on begin
Step 6: Allow access to the phone camera, and scan the bar code shown on the profile page on Kite. On scanning, the account will be added on the authenticator app. TOTP is enabled. To log in to Kite, enter the time-based OTP shown on the authenticator app.
For Zerodha Kite app, follow the steps below:
Step 1: Go to Profile, Manage and Enable 2Factor TOTP.
Step 2: Enter the OTP sent to the account holder’s registered email and click on Verify
Step 3: Click on Can’t Scan? Copy the Key
Step 4: Go to the authenticator app and click on +, then Enter the setup key. Add the account name and paste the key. Ensure the type of key is set as Time based. Then click on Add and then Add account.
Step 5: On the Kite app, copy the TOTP displayed and paste it on the 6-digit TOTP tab and enter the Kite login password and click on Enable. The Demat account holder will get a confirmation pop-up mentioning that the TOTP is enabled. After this, re-login to all Kite sessions across all devices.
First Published: Sept 13, 2022 4:03 PM IST
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