The National Securities Depository Limited (NSDL) on March 18, 2026, issued a circular informing participants about system enhancements in the depository framework to implement changes related to the Basic Services Demat Account (BSDA) opt-out facility, pursuant to SEBI directions aimed at ease of doing business and investor convenience.
The circular introduces a mandatory ‘Consent Mode’ field to capture how investors provide consent for opting out of BSDA, with options including email (registered), physical forms, and online/mobile applications. This requirement applies during both account opening and client modification processes, ensuring proper documentation and transparency.
Further, necessary updates have been made in the UDiFF system (Version 3.0.1.1), including incorporation of the consent mode field across relevant file formats such as BO Upload, Client Master Report, and Client Master Export. Participants are advised to implement these changes accordingly to ensure compliance.
[Circular No. NSDL/POLICY/2026/0036]
