How to become a stock broker in india?

Eligibility and other important details:-

An individual, a firm or a corporate can become a trading member(broker) of a stock exchange
Minimum age shall be 21 for individuals and partners/directors of firms/corporates
Individual/Partners/Directors must be at least graduates
Should have a minimum of 2 years experience in an activity related to dealing in securities or as portfolio manager or as investment consultant or as a merchant banker or in financial services or treasury, broker, sub broker, dealer, authorised agent or authorised clerk or authorised representative of a recognised stock exchange
For membership at the National Stock Exchange, a minimum paid up equity capital of Rs.30 lakhs is required for corporates.
Application form for membership at NSE is available from this link. Instructions for filling are also available at the web site.
It is to be noted here that those who want to become brokers
Should not have defaulted in a stock exchange
Should not have become bankrupt
Should not have been involved in fraud, dishonesty, etc.
The applicant shall also pay an interest free security deposit for cash, futures & options and wholesale debt market segments separately. For Cash/F & O segment trading the deposit is Rs.125 lakhs. Visit this link for other segments.
Once the application is received by the exchange, the membership is granted after due scrutiny and the process is given below.
Interactive session with Membership Recommendation Committee
Approval by Membership Approval Committee / Board
Offer letter of provisional membership of Exchange
Submission of documents for SEBI registration by applicant
Receipt of SEBI certificate
Enablement on the Exchange
Please note that this is the procedure for NSE. For other exchanges, respective web sites may be visited.
Once the membership is given, the broker must comply with the rules and regulations of the exchange by providing documents like audited accounts, insurance policies, networth certificates, shareholding pattern details etc.
The membership could be transferred to another person or a firm subject to the rules of the exchange. Members could be suspended/penalized/warned/expelled for misconduct, unprofessionalism, failure to pay margin money, etc.
The following institutes in India offer educational programmes on capital markets:
Bombay Stock Exchange Training Institute, Mumbai
National Stock Exchange of India, Mumbai
Institute of Financial and Investment Planning, Mumbai
All India Centre for Capital Market Studies, Nasik
Institute of Chartered Financial Analysts of India, Hyderabad
Institute of Cpital Market Development, New Delhi
Institute of Company Secretaries of India, New Delhi

List of Mutual Fund Companies in India

1. Reliance Mutual Funds
2. HDFC
3. Fidelity
4. Franklin Templeton
5. ABN Amro
6. AIG
7. Bank of Baroda
8. Birla Sun Life
9. Canara Bank
10. DBS Chola Mandalam AMC
11. DSP Merrill Lynch
12. Deutsche Bank
13. Escorts Mutual
14. HSBC
15. ICICI Prudential
16. ING
17. JM Financial
18. JP Morgan
19. Kotak Mahindra
20. LIC
21. Lotus India
22. Morgan Stanley
23. Principal
24. Quantum
25. State Bank of India (SBI)
26. Sahara Mutual Funds
27. Standard Chartered
28. Sundaram BNP Paribas
29. Tata
30. Taurus Mutual Funds
31. UTI
32. Benchmark Funds

Demat Account

Demat account, Stands for dematerialized account, is a type of banking account which dematerializes paper-based physical stock shares. The dematerialized account is used to avoid holding physical shares: the shares are bought and sold through a stock broker.
This account is popular in India. The Securities and Exchange Board of India (SEBI) mandates a demat account for share trading above 500 shares. As of April 2006, it became mandatory that any person holding a demat account should possess a Permanent Account Number (PAN), and the deadline for submission of PAN details to the depository lapsed on January 2007.
Procedure
1.Fill demat request form (DRF) (obtained from a depository participant or DP with whom your depository account is opened).2. Deface the share certificate(s) you want to dematerialise by writing across Surrendered for dematerialization.3. Submit the DRF & share certificate(s) to DP. DP would forward them to the issuer / their R&T Agent.4. After dematerialization, your depository account with your DP would be credited with the dematerialized securities.
The benefits
- A safe and convenient way to hold securities;- Immediate transfer of securities;- No stamp duty on transfer of securities;- Elimination of risks associated with physical certificates such as bad delivery, fake securities, delays, thefts etc.;- Reduction in paperwork involved in transfer of securities;- Reduction in transaction cost;- No odd lot problem, even one share can be sold;- Nomination facility;- Change in address recorded with DP gets registered with all companies in which investor holds securities electronically eliminating the need to correspond with each of them separately;- Transmission of securities is done by DP eliminating correspondence with companies;- Automatic credit into demit account of shares, arising out of bonus/split/consolidation/merger etc.- Holding investments in equity and debt instruments in a single account.
Required Documents
The extent of documentation required to open a demit account may vary according to your relationship with the institution. If you plan to open a demit account with a bank, a savings, current and, or other account for which the holder have been issued a check book, such holder has an edge over the non-account holder. In fact, banks usually offer additional incentives to customers who open a demit account with them. Along with the application form, your photographs (with co-applicants) and proof of identity/residence/date of birth have to be submitted. The DPs also ask for a DP-client agreement to be executed on non-judicial stamp paper. Here is a broad list:
- A canceled check, preferably MICR- Proof of Identification- Proof of Address- Proof of Pan card (mandatory)- Recent photographs, one and, or more
For proof of identification and, or address self-attested facsimile copies of PAN card, Voter’s ID, Passport, Ration card, Driver’s license, Photo credit card, Employee ID card, Bank attestation, latest IT returns and, or latest Electricity/Landline phone bill are sufficient. While they only ask for photocopies of the documents, they will need the originals for verification.