SEBI launched a facility for Basic Services Demat Account (BSDA) for Financial Inclusion and Ease of Investing

SEBI vide circular dated June 28, 2024 has launched a facility for Basic Services Demat Account (BSDA) for Financial Inclusion and Ease of Investing. An individual shall be eligible to opt for BSDA subject to the following conditions:

1. The individual has or proposes to have only one demat account where he/she is the sole or first holder.
2. The individual shall have only one BSDA in his/her name across all depositories.
3. Value of securities held in the demat account shall not exceed 10 Lakhs for debt and other than debt securities combined at any point of time.