Good News: SEBI has increased the minimum amount limit in Basic Service Demat Account from Rs 2 lakh to Rs 10 lakh. This new limit will be applicable from September 1, 2024.
Demat Account Limit Hike: To increase the participation of small investors in the stock market and reduce the burden on them, SEBI has increased the minimum amount limit in Basic Service Demat Account from Rs 2 lakh to Rs 10 lakh. This new limit will be applicable from September 1, 2024.
This decision is important in many ways
This decision of SEBI is very important in many ways. This move of SEBI will increase the limit of assets to be kept in Basic Services Demat Account and will increase the inclination of small investors towards the stock market, their financial access will increase.
How will investors benefit
If the value of the portfolio in this account is up to Rs 4 lakh, then the annual fee will be zero. Between Rs 4 lakh and Rs 10 lakh, only Rs 100 will be charged annually. If the value of the portfolio is more than Rs 10 lakh, then the BSDA account will automatically be converted into a regular demat account. The account holder will not have to pay any charge for electronic statement, Rs 25/statement will have to be paid for physical statement.
Let us tell you that SEBI launched the BSDA account in the year 2012. This is a simplified format of the standard demat account, its purpose was to reduce the demat charges levied on the portfolios of small investors.
Send consolidated account statement through email
Depositories and mutual fund-RTAs will have to send consolidated account statement through email by default. Market regulator Sebi said on Tuesday that this will be mandatory. The Securities and Exchange Board of India said in a circular that the new framework will come into effect from September 1. Consolidated account statement is a single or joint account statement containing details of financial transactions of an investor across all mutual funds and other securities held in demat form during a month. However, where an investor does not want to receive CAS through email, he will be given the option to receive it in physical form.
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