can i open demat account without pan card

No, you generally cannot open a Demat account without a Permanent Account Number (PAN) card. As per the Securities and Exchange Board of India (SEBI) guidelines, a PAN is a mandatory document for all investors, as it is required for identity verification and regulatory compliance in the securities market. However, there is a specific exemption for individuals belonging to a Scheduled Tribe (ST) in certain North Eastern states, who may open a Demat account without a PAN card if their total investment value does not exceed ₹50,000.