Do you feel that you should take a consultant or do this process yourself? 

So Sheetal Mam at the time you took it, your application was being done on SI portal, where it was going directly to SEBI. So now Process A little bit of change has happened now that we are getting responses now, the applications themselves are also taking a lot of time, that means three to four months for individual is normal and four to five months for corporate is normal now, okay so application approval is also taking time and what about here it has happened now two layers of approval it has happened once, one has happened to B.Sc. it goes and then it goes to SEBI so what you are talking about experience with SEBI that is no longer there, you are not talking to SEBI officers right you are only talking to PS officer and in terms of paper work is fine in terms of structure If I will, SEBI has defined that In which template do we need What all details do we need, so if someone wants to apply himself by spending a lot of time and effort then he will do the preliminary filing, I will Believe that it is fine in the business plan here What do you know if SEBI has made an initial application I will do That only an experienced person Can help you with it, so my suggestion is If you want to have a smooth Experience is fine where you don't want To go and Sit and read get images of Regulation okay and if you don't want to sit and do all the reading etc. I would suggest that you should always go for a Professional And then because professionals know How queries will come how to do it because they Have done lot of Application variety of questions from If you know the requirement then they Will help you in drafting So my suggestion is Always take a professional help they have a Experience because there is money at stay There are your dreams at stay you are not From If I want to save money, I will do it myself And the application is done, you get Right, so it does make sense, so there is a little process Now your approach is more professional approach, correct, and Now you tell me a little paper work Tell me about the requirements If there is TDS, then That is more of an energy driven work, you know If someone wants to do it himself Okay, right now a lot of people's Registrations, Anjali, are in process Meaning it is in the pipeline and it has not been done means I had another student who After six months, his registration was done They had told someone I took the help of a consultant but I was surprised that he used to call me every now and then he used to message that my process is stuck at this stage and that stage, so I told him the same that till the SEBI registration process was going on or in the initial stage when that SI portal was there, at that time I was aware of certain things, I was helping you out but right now I don't have that much expert that I can do all those things. 

So those whose cases are still in the pipeline for those who have a waiting period of five months or even six months for those who have already completed their waiting period so what suggestion can you give? 

So, see only two things either means they will have to only send a follow-up appearance first, you have to see that the application is still with BSC or has been shifted to SEBI. If it is passed, then you have a contact number. If you know who handles your application, you will have to write to them and try to reach out to them and chase them for the application. Second is late if BSC the application has already gone to SEBI then you have no option then to we have to wait follow up send remainder follow up emails you can easily find email id of SEBI officers on google put follow up emails and you mean timeline do we understand exactly your timeline looks cool, just now not taking, i mean our application we are getting to know its timeline. Timeline means actually how may days what progress is it in right now or what level is it at right now time means if you say that you Time and again it will be updated on your system It is like if we send a courier If then it will give us time and again it gives live updates of our status It is not like that here if we open our portal then the status will be under It will show only process, you know in progress Or it will show under process under approval It will Okay but this is with SEBI What status do we get to know When will we get to know from our application. When your application is shifted to SEBI Two things happen, one is that you have to fill the form at the beginning of the SI portal You will have to do it after paying this status You will have to send a form to SEBI officer  to sign and give it to you know BSC officer now BSC officer is going to upload it in the SI portal okay that is one proof that your application is shifted to SEBI second is when you are making the payment for the application SEBI yes you pay the application fee and sign the form and give it which means your application it is now shifted from BSC group and then you have no option than to that person only to follow up because they are the only person who can write a follow up email to you can't do it directly but we ourselves this We are facing a lot of problems right now with our clients, we have also faced this problem ourselves you know we have taken out few email IDs and those stuffs and writing them to you know like marking follow up emails marking those SEBI officers that our application should be a little expedite. 

If suppose I start this as a  individual RA  and I think I have to shift it to corporate RA Because there are some limitations of becoming an individual RA like I can't do any sub-brokership or some other work that I can't do like I have to tell you a little bit about it want you to put some light on that as a corporate RA what all limitations do I have to work, sorry because of becoming an individual RA and a corporate RA what other work that I can do and second question is that if shifted from individual RA to corporate RA license then I will have to do it How Because I should go for this Even if I go and get a corporate RA If I don't get the license, will my If I get an individual RA license, does that mean it comes to a halt or how is it Exactly this entire process is? 

So, There are some things, some factors you must keep in mind when you are deciding whether you should go for a Individual and a corporate license is one Limitations as an individual if you If you take an individual RA license, you cannot get involved in other business activities You can get an AMFI license, you know Can't be And now when we have just brought a new one then you can Not be a director also right then you So many limitations are there so of course Anybody if you would ask me I would tell Anybody to go for a corporate license Because what happens as an individual you get They are confined and honestly we so many Things it is not after your license comes you know from the next day you Start earning so nicely it doesn't happen Like that and there is a cost Survival right so I would always suggest Anybody to go for corporate license now But there is one Limitation of Corporate The license will cost you Rs 5.5 lakh plus GST something that you have to have in your account when you want to go for the license if lately someone doesn't have that money it is you know 5 ,6 lakh is a right with someone doesn't have that money then I suggest go for individual license after a point where you feel yes you know you have earned something have to have money you can go for a corporate license then in future you can go for a corporate license now go for corporate license again what is the process you have to form a company and you have to apply separately for a license have to make fresh application there is no concept of transfer you have to apply for a fresh license now fresh time pay you will have to give a declaration saying that I am an individual research analyst I just surrender my individual research analyst's license and subject to approval of this corporate license so what will happen to you that your work is not stopping yes your work is not stopping and you just after getting this corporate license you are surrendering your individual license that is one thing now let's go to someone okay means I can continue my work yes you can continue .now let's say if somebody doesn't have a monetary constant okay then I will tell them for corporate license because corporate what is the use of taking license you can do the work of RA you have to take ARN you can take it you have to go into more business activities you can go it becomes your scope your horizon when you are going for a corporate license and something corporate any which way is a big thing you have you should go for a corporate license of course is of company act compliances come you know apart from The semi compliant but the one which is compliant with the company act is manageable if you hire a proper consultant then it is manageable there is no man otherwise there would not happen so many videos someday if you do anything by yourself if you want to do something then nothing will happen yes that is the I notice productivity is hampered and most of the time you are involved in some of the other compliant because here you are a SEBI intermediary and you are an answerable entity so Definitely SEBI has some or the other Constraint something or the other on you, which means Regulations are going to be kept, so you Assume that means we have to proceed with this understanding that we If it is a safe intermediary, then we have to do all these things, after getting that intention you Will say hey why is it so compliant Why is it like that, you have to be Mentally prepare for that because you are Answerable you are somewhere you are Accountable okay people are not just paying you fees For example if Fee ₹3000 per month I am taking consultancy charges so only that ₹3000 they are not paying me, they are taking calls on my recommendations means that whatever profit or loss will happen from that generation, somehow you are going to be accountable for that or not so if so many regulations are not imposed on you, it will not happen and if you are not able to handle it then there are consultants in the market, okay you can take consultants, that means there are good consultants in the market, it is about You know that end of course is a common Problem I have also seen Sheetal To go somebody who is charging peanuts and then Now what happens to the person who charges peanuts Isn't it, it becomes a volume and then that happens Getting them done and getting up Service. 

So I and also for the company Formation there are so many cases where I have clients come with this online Platforms which are platforms you know Incorporate the company from the online Platform and then they do the entire Compliances also from the online Platform and they don't do anything No I mean or because you need to Understand that you need a customized you know personal solution if you want someone that you have a problem and you can call and dial someone or everything you want online services there are so many cases there just you know the online consultants you get I mean the online platforms they don't do justice to the right process so it is always advisable to save some money you know whether you go to the peanuts guy or you go to the online platforms they pay a very heavy price later on Yes it is like one way communication that Means you want someone to guide you And if there is no one in front of you then it means You have paid your money and you are not getting guidance in front of you then. 

That is why it is very important that someone you know Or with whose reference you are going somewhere if it makes a lot of difference to you It is not there The good thing is that we also have consultants like Anjali who listens to us day in and day out. Whenever we call you or message you, we get response, so that is the most and this thing helps us to stay in the industry because we yes because look at these things, this industry is evolving right now, more than 20 crore demat accounts have been opened and there are only 1500-1600 RA's in front, so here the scope is definitely very big for RA's okay, those who want to come and all the people there are so many people as many demat accounts Those who are not able to do their research on a personal level, then they will need some RA's or some consultant for recommendations and if he is SEBI registered it will be more beneficial for you because you have all types of means if suppose you face any problem here then SEBI scores or such platforms where you can put your complaint.

So you are being cheated or you feel that some fraud activity is happening with you or some RA is taking money from you or something like that money means you are talking about managing money. 

So, all these things are not allowed to RA's. So somewhere, your clients should also know what their responsibilities are. They should know their dos and don'ts are. And all these things. We also keep doing this at our level. And all these things you tell us, and by doing so we come to know what our responsibilities are and what are our client's responsibilities and their rights. So I am really happy for the entire discussion. I think this is very suitable. May be our client For our students who join us and ask us a lot of questions then they might have got the answer somewhere or the other the compliance of RA means which is the second part after registration the compliance of RA which is above that we will talk about it in the next video so thanks Anjali once again discussion and we will meet again soon. Thanks for your time, Anjali. thank you Sheetal and thank you so much for having me today because you know I also believe that a lot of people have this question and I am glad that through you, you know I was able to help you know few people have so many queries and people who are looking for the licenses and influencers and also you know SEBI has given a lot relizaion for the license and rather than just around means that just being in a space where you are know in a dilemma whether you should take a license and not go and take a license relization and education given and for you people so I would suggest all those influencers and all those people who wants to start there recommendation career in securities Market They should come forward take license SEBI is Trying to be as flexible as possible when The registration thing is a concern yes Compliance related things are difficult or a little bit complicated but I told you the reason behind it so take this thing seriously and we are on a serious note Let's end this particular session We will meet soon with the next session where we will talk about SEBI compliance means RA compliance post registration we will talk about it so thanks for your time by Thank you thank you.