The Central Depository Services Limited (CDSL) on March 30, 2026, issued the notification regarding the Facility for Basic Services Demat Account (BSDA)
The following has been stated namely: -
• The communiqué outlines that eligibility for a Basic Services Demat Account (BSDA) is determined based on whether the first holder maintains only one demat account across both CDSL and NSDL
• This eligibility assessment is based on consolidated data shared between the two depositories as of March 20, 2026, ensuring a system-wide check for duplicate accounts and accurate valuation of holdings.
• The criteria apply specifically to demat accounts held by Individuals, Non-Resident Individuals (NRIs), and Foreign Nationals, with validation primarily based on the PAN of the first holder, except in cases where PAN exemption applies.
• To facilitate compliance, CDSL has provided DPs with multiple data files in their billing folders, including lists of eligible BOs (both PAN and PAN-exempt), BOs holding multiple accounts, and a comprehensive file showing BSDA status flags for all accounts.
• Based on these reports, Depository Participants are required to review and take necessary action, including unmarking accounts that no longer qualify as BSDA (especially in cases of multiple accounts), updating records through BO modification uploads, and informing the concerned beneficial owners accordingly.
[Notification No. CDSL/OPS/DP/POLCY/2026/224]
