The Central Depository Services (India) Limited (CDSL) on December 11, 2024, issued a notification regarding the validation of KYC records with KRA.
The following has been stated: -
•CDSL has notified DPs about freezing demat accounts of clients with invalid KYC records as per KRAs, based on a list of non-validated PANs updated until November 30, 2024. Affected accounts will be frozen on December 28, 2024, with a "KYC non-compliant" reason code.
•DPs are to follow the unfreezing process as per the guidelines in Communique CDSL/OPS/DP/SYSTM/2023/525 dated September 05, 2023. Details of the impacted accounts are available in the billing folder.
[Notification No. CDSL/OPS/DP/POLCY/2024/750]
