by In order to increase the participation of small investors in the stock market and reduce the burden on them, SEBI has set the minimum amount limit in Basic Service Demat Account at Rs. 2 lakhs to Rs. 10 lakh has been done. This new limit will be applicable from September 1, 2024.
This decision is important in many ways
This decision of SEBI is significant in many ways. Sebi’s move by increasing the asset limit for basic services demat accounts will increase the inclination of small investors towards the stock market and increase their financial access.
How will investors benefit?
If the portfolio value in this account is up to Rs 4 lakh, the annual fee will be zero. Between 4 lakh to 10 lakh rupees only 100 rupees will be taken annually. If the portfolio value is Rs. 10 lakhs, the BSDA account will be automatically converted into a regular demat account. Account holder will not have to pay any charges for electronic statement, for physical statement he will have to pay Rs.25/statement.
Let us tell you that SEBI started BSDA account in the year 2012. This is a simplified version of the standard demat account, aimed at reducing demat charges on the portfolio of small investors.
Sensex will reach 80 thousand today, how will it work?
Send a consolidated account statement by email
Depositories and Mutual Funds-RTAs will send consolidated account statements by email by default. Market regulator Sebi said on Tuesday that this has to be done compulsorily. The Securities and Exchange Board of India has said in a circular that the new framework will come into effect from September 1. A consolidated account statement is a single or combined account statement containing the details of an investor’s financial transactions in all mutual funds and other securities held in demat mode during a month. However, where the investor does not wish to receive the CAS by email, he will be given the option of receiving it in physical form.
