The Securities and Exchange Board of India (SEBI) on June 05, 2024, invited comments/suggestions on the Consultation Paper on Draft Review of Facility for Basic Services Demat Account (BSDA) for Financial Inclusion and Ease of Investing.
The following has been stated:
• It has introduced the concept of Basic Service Demat Account in 2012 wherein the eligibility norms, maximum annual maintenance charges (AMC) for BSDA as well as services to be provided to BSDA were specified.
• It has stated the facility for BSDA has been reviewed and it is proposed to enhance the limit for a demat account to be categorized as BSDA. Further, the maximum AMC for BSDA as well as services to be provided to BSDA have also been reviewed in the Draft Circular.
• Public comments are invited on the Draft Circular including the following:
o Whether the BSDA limit should be enhanced over and above the proposed limit of 10 lakhs? If yes, any specific reasons for the same.
o Whether, instead of a combined limit that shall be fungible across debt and other than debt securities as proposed, separate limits should be retained for debt securities and other than debt securities?
o Whether the annual maintenance charges (AMC) for BSDA should be reviewed further? If yes, what should be the AMC (i) NIL (ii) `100 (iii) `500.
The comments/suggestions should be submitted latest by June 26, 2024, through the following link:
https://www.sebi.gov.in/sebiweb/publiccommentv2/PublicCommentAction.do?doPublicComments=yes
Kindly find the Draft Circular provided with this document attached to the document.
