The National Securities Depository Limited (NSDL) on April 30, 2026, issued the Master Circular for Participants.
The following has been stated:-
•The guidelines emphasize that KYC and Client Due Diligence are essential for preventing money laundering, requiring verification of identity and address before account opening.
•Intermediaries must not open anonymous or fictitious accounts, and PAN is mandatory for all clients.
•Clients must submit valid, self-attested documents for Proof of Identity and Address, with special provisions for NRIs, minors, and foreign nationals. Additional rules cover beneficial ownership identification, name screening against sanction lists, and acceptance of deemed address proofs where needed.
•A simplified SARAL account opening form has also been introduced to encourage new investors with basic requirements.
The detailed circular is given in the document below.
