Electronic Dispatch of Securities Account Statements Mandated by August 2024; Physical Copies on Request.

The circular dated July 01, 2024, mandates the dispatch of Consolidated Account Statements (CAS) for all securities assets electronically by default, with the option for physical copies upon investor request. Amendments to relevant regulations are required for implementation by August 01, 2024. Depositories must update bye-laws, make system changes, and report to SEBI. The circular, issued under SEBI's authority, modifies specific sections of the SEBI Master Circular on Depositories. Investors will receive CAS via email based on transaction activity, with the option for physical statements. Holding statements will be sent electronically, with physical copies available on request. DP must provide demat account statements electronically, with physical copies if electronic mode is unavailable. .....

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