The National Securities Depository Limited (NSDL) on November 21, 2024, notified regarding the suspension of demat accounts of existing clients whose KYC records are not found to be valid by KRAs after the validation process.
The following has been stated namely: -
• It states that based on the provided list of the KRAs non-compliant demat accounts as of November 4, 2024. The list, available on the i-Assist portal under "Non-Complied KYC KRA Accounts," is named "DPID_Non-Complied_Non-Complied_KYC_KRA_Accounts_October_2024" for Participants to review and address with their clients.
• It further states that NSDL shall suspend debit and credit for non-compliant demat accounts on November 30, 2024, based on KRA data updated by November 28, 2024.
[Circular no. - NSDL/POLICY/2024/0173]
