All brokers are required to carry out an IPV process for all clients. IPV or In-person verification as the name suggests is a process where the broker verifies the existence of the client in person.

It is compulsory for every client to go through the IPV before opening a Trading and a DEMAT Account. IPV in the past used to be done physically where an employee of the broker would visit and verify. 

Technology now allows the IPV to be done online or through a webcam-IPV.