The Central Depository Services (India) Limited (CDSL) on May 05, 026, issued the notification regarding the Amendments to DP Operating Instructions Chapter - 2 & 3.
The following has been stated namely: -
• CDSL has amended the DP Operating Instructions (OI) Chapters 2 and 3 based on SEBI’s December 24, 2025 circular to improve the Basic Services Demat Account (BSDA) framework.
• BSDA eligibility has been expanded to include Individuals, NRIs (Non-Resident Indians), and Foreign Nationals (FNs).
• Eligible account holders can have only one BSDA across all depositories where they are the sole or first holder.
• The total value of securities in a BSDA must not exceed ₹10 lakhs at any point in time.
• DPs must open BSDA accounts by default for eligible BOs unless the BO opts for a regular demat account through authenticated and verifiable channels specified by depositories.
• If a BO chooses not to avail BSDA facilities, the DP can mark the account as “BSDA – Opt Out,” while recording the consent date and consent mode (email, physical form, online/mobile app).
• Electronic statements for BSDA accounts remain free, while physical statements can be charged up to ₹25 per statement.
• DPs are now required to reassess BSDA eligibility of existing accounts at the end of every quarter and convert eligible accounts into BSDA unless the holder opts for a regular account.
• BSDA annual maintenance charges (AMC) remain unchanged:
o Nil for holdings up to ₹4 lakhs
o ₹100 for holdings between ₹4 lakhs and ₹10 lakhs
o Regular AMC applicable if holdings exceed ₹10 lakhs.
• New valuation rules clarify that illiquid securities may use the last closing price, while suspended securities, delisted securities, and Zero Coupon Zero Principal bonds may be excluded when determining BSDA eligibility.
[Notification No. CDSL/OPS/DP/POLCY/2026/303]
