SEBI proposes no-frills demat account for small investors

8/29/2012
The Securities and Exchange Board of India (SEBI) has announced no-frills demat accounts for small investors to achieve wider financial inclusion while reducing the cost of maintaining securities in the accounts.
There will be no charges for holdings worth up to Rs 50,000 in the proposed Basic Services Demat Account (BSDA) and for value of holding from Rs 50,001 to Rs 2, 00,000, the annual maintenance charge will be up to Rs 100.
Investors would get electronic statements free of cost for these accounts. Besides, at least two physical statements would also be provided free of cost during the billing cycle and any additional physical statement may be charged at a fee not exceeding Rs 25 per statement.
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