The Central Depository Services (India) Limited (CDSL) on August 06, 2024, issued a notification regarding the Facility for Basic Services Demat Account (BSDA).
As of July 2024, CDSL has updated its process for determining the eligibility of Beneficial Owners (BOs) for the Basic Services Demat Account (BSDA). Previously, eligibility was checked within CDSL based on the criterion that the first holder had only one demat account. However, for July 2024, CDSL has also included information from NSDL to identify eligible BOs and those already marked as BSDA. The updated list of active BOIDs eligible for BSDA includes demat accounts in the individual category, with securities valued not exceeding Rs. 2 lakhs for both debt and non-debt securities as of July 31, 2024. Additionally, these accounts must be registered for the SMART facility and must be the only demat account of the first holder across depositories, verified by PAN, except for PAN-exempt entities.
The file named “BLNG<DPID>_BSDA_JUL2024.tar” has been placed in the respective billing folders of DPs. It includes three lists: eligible BO IDs with verified PAN, eligible BO IDs under the PAN exempt category, and BO IDs currently marked as BSDA but having another account with CDSL and/or NSDL. DPs are advised to use the BO modify upload to unmark such accounts as BSDA and inform the BOs accordingly.
[Notification No. CDSL/OPS/DP/POLCY/2024/438]
