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A Basic Service Demat Account (BSDA) as the name suggest is the demat account with limited services at a reduced cost. A person is allowed to hold securities of value up to Rs 2 lakh in BSDA by paying a minimal AMC.
It is a step by SEBI to protect the small investors from paying a high maintenance fee. It is the felt that majority of DEMAT account holders don’t really use their accounts as much as they should and still end up paying high maintenance fees. So, to help out such investors, SEBI came up with this account type.
The conditions for BSDA are:
The AMC Charges for BSDA is on slab basis as follows:
if the value of holding is
The value of holding shall be determined by the DPs (brokers) on the basis of the daily closing price or NAV of the securities or units of mutual funds. If the value of holding in such BSDA exceeds the prescribed criteria at any date, the DPs may levy charges as applicable to the regular account (non-BSDA) from that date onwards.
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