SEBI notified regarding the Facility for Basic Services Demat Account (BSDA) for Financial Inclusion and Ease of Investing
Jun 29, 2024 | by TeamLease RegTech Legal Research Team
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The Security and Exchange Board of India (SEBI) on June 28, 2024, issued the notification regarding the Facility for Basic Services Demat Account (BSDA) for Financial Inclusion and Ease of Investing.
The following has been stated namely: -
• An individual shall be eligible to opt for BSDA subject to the following conditions
o The individual has or proposes to have only one demat account where he/she is the sole or first holder.
o The individual shall have only one BSDA in his/her name across all depositories.
o Value of securities held in the demat account shall not exceed 10 Lakhs for debt and other than debt securities combined at any point of time.
• The charge structure shall be as indicated below:
o Upto 4 lakhs – NIL
o More than 4 Lakh but upto 10 lakhs – 100
o More than 10 lakhs – Not a BSDA. Regular AMC may be levied.
This circular shall come into effect from September 01, 2024
[Notification No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/91]
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