Whether I need to give bank account details at the time of account opening?
It is for your own protection. The bank account number will be mentioned on the interest or dividend warrant, so that such warrant cannot be encashed by any one else. Further, cash corporate benefits such as dividend, interest will be directly credited to your account through the ECS (Electronic Clearing Service) facility, wherever available, by the company. This would reduce the paper work at your end for depositing the cheque, loss of cheques in transit etc.

Do I need to maintain a minimum balance in my account?
No you are required to maintain any minimum balance of securities in your DP account. You can hold even 1 share of a company.

Whether I can change the details of my bank account?
Yes. Since in the depository system monetary benefits on the security balances are paid as per the bank account details provided by you at the time of account opening, you must ensure that any subsequent change in bank account details is informed to your DP immediately.

Can I close my demat account with one DP and transfer all securities to another account with another DP?

Yes you can. You can submit account closure request to your DP in the prescribed form. The DP will transfer all the securities lying in the account, as per the instruction, and close the demat account.

Whether I can freeze or lock my account?
You can freeze or lock your account for any given period of time, if so desired. Accounts can be frozen for debits (preventing transfer of securities out of accounts) or for credits (preventing any movements of securities into accounts) or for both.

Is it necessary to have account with the same DP as broker has?
No. Depository / DP can be chosen by you as per convenience irrespective of the DP of your broker.
Whether my broker can also act as a DP?
Yes he can. In fact most of the brokers are also registered as a depository participant so that they offer both the services and you also get the benefit of synergy in operations. However it is not compulsory for you to open a DP account with your broker.

Whether depository participants are governed by any Rules and Regulations?
Depository participants are governed by SEBI Act, 1992, Depositories Act, 1996, Securities and Exchange Board of India [Depositories and Participants] Regulations, 1996, Rules, Regulations and Bye laws of the respective depository with which he is registered as well as various directives of SEBI and depository issued from time to time.

What are the documents to be signed with depository participant?
Before opening an account with a depository participant, you are required to furnish your details such as name, address, proof of address, etc. to the DP and execute a DP client agreement. These documents list out right and duties of investors and also give the schedule of charges. Please go through all these documents carefully. With effect from April 01, 2006, all investors are required to furnish Permanent Account Number (PAN) while opening new accounts or in case of existing accounts.

Whether I can open more than one DP account with different participants.
Yes you can. You can open as many accounts as you want. There is no bar on opening multiple accounts with different DPs as long as these accounts are genuine and backed by proper documents.