Quick Summary
A SEBI registered Research Analyst holds an INH number, followed by nine digits. Verification happens on the SEBI website under the Research Analyst category. Registration alone does not mean guaranteed profits, only regulatory accountability. This checklist covers name matching, red flags, and what to do if the RA number doesn’t trace back.
“Made Rs 9,000 today. Out of 4 calls of Kunal, he earned profit in 3.”
That’s exactly how one college student got pulled in, right before he lost Rs 1,50,000.
The analyst’s registration number even checked out on paper.
It was the entity behind it that didn’t. Five companies were later found sharing the same number.
Before you follow a single SEBI registered research analyst tip, make sure yours isn’t the sixth.
Common Beliefs About RA Tips, Checked Against Reality
A lot of what pulls investors into tip groups rests on assumptions that don’t hold up.
Myth: If the RA shares a valid looking registration number, the tip is safe to follow.
Fact: A valid format doesn’t confirm the number belongs to the person quoting it. Numbers get reused across unrelated entities.
Myth: A few accurate calls in a row prove the analyst is genuinely skilled.
Fact: Short winning streaks are a documented trust building tactic used before a paid pitch, not proof of skill.
Myth: Paying a subscription fee makes the arrangement legitimate by default.
Fact: A fee only confirms money changed hands, not that the recipient is SEBI registered or acting within the rules.
RA Verification Checklist
Run through these points before you pay for any tip, call, or paid research plan.
- INH number: Confirm the format starts with INH followed by nine digits.
- Name match: The registered name must exactly match the person or firm you’re paying.
- RAASB listing: Check whether the RA appears under the Research Analyst Administration and Supervisory Body records.
- Disclosure practice: A genuine RA discloses the reasoning and risk behind every tip, not just buy or sell calls.
- Fee structure: Confirm fees are transparent and not tied to a share of your future profits.
- No guaranteed returns: Any RA promising fixed or guaranteed profit percentages is violating SEBI rules outright.
- Grievance channel: A registered RA must display a clear complaint or grievance process on their communication.
Verifying the Number Yourself, Step by Step
A full screen by screen version of this process is covered in how to check SEBI registered research analyst.
1. Go to SEBI’s website: open the Intermediaries section from the main navigation menu.
2. Select Recognised Intermediaries: then choose Research Analyst from the category list.
3. Search the exact number: paste the INH number given to you rather than typing it from memory.
4. Check the registered entity name: compare it word for word against who is actually messaging or calling you.
5. Note the validity status: an expired or suspended registration should stop you immediately.
The Five Companies, One Number Case
One documented case involved five different companies using the same SEBI registration number for research services.
Each entity presented the same number as its own, banking on the fact that most investors never actually check the registered name.
This is exactly why matching the name, not just the number, matters more than any other single step in this checklist.
What Registration Does Not Guarantee
A valid INH number confirms accountability to a regulator, nothing more.
It does not mean every call will be profitable or every tip well researched.
Registration is your starting filter, not your final decision, treat every recommendation on its own merits after that.
Bottom Line
Two minutes on the SEBI portal can save you from months of chasing a refund later.
You can run a full SEBI registered advisor check for any entity type through the Fraud Free resource hub.
Already paid an unregistered RA and lost money? You can file a complaint against a SEBI registered research analyst through the correct channel.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
A SEBI registered Research Analyst's number starts with INH, followed by nine digits. Always verify it on the SEBI website rather than trusting a screenshot or certificate image shared directly.
No. SEBI rules explicitly bar research analysts from assuring fixed or guaranteed returns. Any RA making such promises is violating regulations, regardless of how valid their registration number looks.
This is a documented scam pattern where multiple entities reuse one valid number. Treat any mismatch between the registered name and the entity you're paying as an immediate red flag.
No. Registration only confirms regulatory accountability and compliance with disclosure rules. It does not guarantee that any recommendation will be accurate or that you will profit from following it.
You can report an unregistered or fraudulent research analyst through SEBI SCORES if they hold a number, or via direct email to SEBI if they operate without any registration at all.
A few accurate calls early on are a known trust building tactic. This manufactured confidence is designed to make a later paid plan or fee request feel like a reasonable next step.
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