The National Securities Depository Limited (NSDL) on January 23, 2025, issued a circular regarding the suspension of demat accounts of existing clients whose KYC records are not found valid by KRAs after the validation process.
The following has been stated: -
•NSDL has suspended demat accounts of clients with invalid KYC records, including invalid PANs, as per Circular No. NSDL/POLICY/2024/0187. Accounts with non-compliant KYC records for December 2024 will be frozen for "Suspended for debit and credit" on February 01, 2025.
•Participants are advised to notify affected clients and follow the procedure for suspension removal as outlined in NSDL's August 2023 circular.
•The updated KYC data will be reviewed on the i-Assist portal.
The detailed circular is given in the document below.
[Circular No. NSDL/POLICY/2025/0008]
