The National Securities Depository Limited (NSDL), on January 21, 2026, notified regarding Suspension of demat accounts of the existing clients whose KYC records are not found to be valid by KRAs after the validation process.
The following has been stated, namely:-
• KRAs have provided the list of KYC records that are not found to be valid due to various reasons [including invalid PANs for any reason] for new PANs updated in KRAs system during December 01, 2025, to December 31, 2025.
• Based on the data made available by KRAs on January 06, 2026, for the said PANs, which are KRA non-compliant, the DP-wise demat accounts have been identified, and the said list is made available by NSDL on the E-pass portal on the path “Non-Compliant KYC KRA Accounts” with the file name as “Non-Compliant_KYC_KRA_Accounts_Dec_2025” for participants' review and taking up with their concerned clients.
• The aforesaid demat accounts will be frozen by NSDL for “Suspended for debit and credit” on January 31, 2026 (Saturday), considering the updated data to be made available by KRAs on January 30, 2026. Participants are also advised to send intimation to the aforesaid concerned clients after suspension of demat accounts via letter/email/SMS or any other mode as deemed fit.
[Circular No.: NSDL/POLICY/2026/0010]
