SEBI Circular Promotes Financial Inclusion via Basic Services Demat Accounts (BSDA) with Simplified Charges and Free e-Statements.

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....SEBI issued a circular on BSDA to promote financial inclusion and ease of investing. Eligibility criteria include having one demat account, max securities value of Rs. 10 Lakhs. DPs to open BSDA unless BO opts for regular account. Charges vary based on holdings value. Electronic statements are free, physical statements may incur a fee. Circular effective from September 01, 2024. Depositories must amend rules, inform DPs, ensure compliance, and report to SEBI. Issued under SEBI Act and Depositories Act to safeguard investor interests and regulate the securities market.....