Separate BSDA limit for Debt Securities
SEBI has introduced the facility of “Basic Services Demat Account” (BSDA) with limited services for eligible individuals with the objective of achieving wider financial inclusion and to encourage holding of demat accounts. In order to further boost participation in Debt Market it has been decided to revise the structure of charges for debt securities as defined in SEBI (Issue and Listing of Debt Securities) Regulations, 2008, as given below:
a) No AMC shall be levied in case the value of holdings of debt securities is up to Rs. 1 lakh and a maximum AMC of Rs. 100 shall be levied if the value of holdings of debt securities is between Rs. 1,00,001 and Rs.2,00,000. and b) No AMC shall be levied in case the value of holdings other than debt securities is below Rs. 50,000 and a maximum AMC of Rs. 100 shall be levied if the value of holdings other than debt securities is between Rs.50,001 and Rs.2,00,000.
This shall come in to effect from 01 June 2019.
The Depositories are advised to:
a) make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision as may be applicable / necessary.
b) communicate to SEBI, the status of implementation of this provisions by the DPs in the Monthly Development Report.
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