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TMI BlogFacility for a Basic Services Demat Account (BSDA)X X X X Extracts X X X X X X X X Extracts X X X X ..... vices as per terms specified herein. 2. Eligibility : Individuals shall be eligible to opt for BSDA subject to the following conditions a. All the individuals who have or propose to have only one demat account where they are the sole or first holder. b. Individuals having any other demat account/s where they are not the first holder shall be eligible for BSDA in respect of the single demat account where they are sole or first holder. c. The individual shall have only one BSDA in his/her name across all depositories. d. Value of securities held in the demat account shall not exceed Rupees Two Lakhs at any point of time. 3. Option to open BSDA : The DP shall give option: a. To open BSDA to all eligible individuals who o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , no transaction statement may be sent for that quarter. ii. If there are no transactions and no security balance in an account, then no further transaction statement needs to be provided. iii. Transaction statement shall be required to be provided for the quarter in which the account became a zero balance account. b. Holding Statement: i. One annual physical statement of holding shall be sent to the stated address of the BO in respect of accounts with no transaction and nil balance. ii. One annual statement of holding shall be sent in respect of remaining accounts in physical or electronic form as opted for by the BO. c. Charges for statements: Electronic statements shall be provided free of cost. In case of physical st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... effect from October 01, 2012. 8. The Depositories are advised to:- a) make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately, as may be applicable/necessary ; b) bring the provisions of this circular to the notice of their DPs and also to disseminate the same on their website; and c) communicate to SEBI, the status of implementation of the provisions of this circular in the Monthly Development Report. 9. This circular is being issued in exercise of the powers conferred by Section 11 (1) of Securities and Exchange Board of India Act, 1992 and section 19 of the Depositories Act, 1996 to protect the interest of investors in securities and to promote the developmen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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