The National Securities Depository Limited (NSDL) on February 18, 2026, issued a circular regarding the suspension of demat accounts of existing clients whose KYC records are not found to be valid by KRAs after the validation process.
The following has been stated: -
•National Securities Depository Limited has identified demat accounts with invalid KYC records, including invalid PANs, based on data provided by KRAs for January 2026 updates.
•The list of affected accounts has been shared with Participants via the E-pass portal under “Non-Compliant KYC KRA Accounts.”
•Such demat accounts will be frozen for debit and credit transactions on March 07, 2026, subject to updated KRA data.
•Participants must inform clients post-suspension and follow the procedure prescribed in NSDL Circular dated August 18, 2023, for removal of suspension.
[Circular No.: NSDL/POLICY/2026/0025]
