The Central Depository Services (India) Limited (CDSL), on July 1, 2026, issued a communiqué introducing an Application Programming Interface (API) to enable Depository Participants (DPs) to identify the number of Beneficial Owner (BO) accounts held by a client across the CDSL depository at the time of opening a new demat account. The initiative aims to strengthen regulatory compliance, client due diligence, and KYC processes.
The API provides real-time information on the aggregate number of demat accounts linked to the first holder based on common identifiers such as PAN, mobile number, email ID, bank details, and address. The facility enables DPs to identify clients holding multiple BO accounts, ensure compliance with CDSL's due diligence requirements, obtain necessary declarations where prescribed thresholds are exceeded, and maintain appropriate records.
The API is designed to be integrated into the BO account opening workflow of Depository Participants, thereby improving monitoring, documentation, and prevention of misuse of multiple demat accounts. Detailed technical specifications and integration guidelines have been provided in the annexure to the communiqué.
[Communiqué No. CDSL/PMLA/DP/POLCY/2026/439]
