The Central Depository Services (India) Limited (CDSL) on November 03, 2023, issued a notification regarding the Validation of Aadhaar Based KYC Records with KRA.
The following has been stated namely: -
• CDSL froze the demat accounts for existing clients whose KYC records were not found to be valid by KRA due to issues like invalid email ID and invalid mobile number data updated till October 31, 2022.
• KRAs have now provided the list of KYC records that are not found to be valid due to various reasons (including invalid PANs for reasons PAN not seeded with Aadhar) updated as on August 31, 2023.
• Based on the aforesaid list, the list of DP-wise accounts identified against said invalidated PANs was made available by CDSL in the DPs billing folder with file name “BLNG<>_KRA_DEFICIENT_BO_16102023.tar” for follow-up with identified deficient BOs.
• The aforesaid Demat accounts will be frozen for both - debit and credit with freeze reason code “27 – Account holder related–KYC non-compliant” on Saturday, November 25, 2023, considering the updated data made available by KRAs as on November 23, 2023.
[Notification No. CDSL/OPS/DP/POLCY/2023/643]
