Investors entering into a securities market transaction of a value of Rs 1 lakh or more need to quote their unique identification number from April 1, 2005, says the Securities and Exchange Board of India.

This is part of the capital market watchdog's attempts to bring some order to the market.

The idea is to gradually build up a central database of market participants -- called Mapin - that would be readily available to all concerned.

• Mapping the faults in MAPIN-UIN

In order to collect Mapin IDs, Sebi has appointed the National Securities Depositories Ltd (NSDL), which, in turn, has appointed points of service (POS) agents.

The POS will offer application forms for registration, accept the filled forms, and collect bio-metric data such as fingerprints of the applicants. These POSs will set up camp offices at various locations in each state to provide the service.

According to the Sebi guideline on this, after March 31, 2005, no one will be allowed to trade place an order of Rs 1 lakh or more in the equity segment, a mutual fund scheme or a collective investment scheme without a Mapin identification card.

No trading will be allowed in the derivatives segment either without it.

The regulation comes into force from March 31, 2005.

After that date, one can continue to trade in the equity segment without a Mapin ID only if one places an order of value less than Rs 1 lakh.

So, how does one get the Mapin ID?

Individuals have to personally visit the designated POS's office in their region and provide their fingerprint during registration.

The application form, along with a demand draft of Rs 300 as registration fees, has to be submitted to the POS too.

Also, remember to carry a proof of identity (the original and a photocopy) as mentioned in the application form. If you mention your PAN number, then attach a photocopy of the PAN card. Also, carry a proof of address.

The Mapin identity cards will be issued to the applicant within two weeks of the submission of the application.

The process of allotting unique identification number is going on at full tilt now. It started in December 1, 2003.

Down the road, investors can view basic information of an intermediary and whether the intermediary is facing any disciplinary action, from the Mapin database on the NSDL site.

An intermediary can also verify that the client's identity through the Mapin database.