The National Securities Depository Limited (NSDL), on September 08, 2026, has amended Rule 18.2.1 of the NSDL Business Rules relating to the penalty structure applicable to R&T Agents and Issuers having direct connectivity with NSDL for their in-house registry division.
The following has been stated:
The revised Rule 18.2.1 provides for penalties where data submitted in the Internal Audit Report, Quarterly Investor Grievance Report, or Half-Yearly Compliance Certificate is found to be false or incorrect.
The penal action will be ₹1,000 per occasion. If the same deviation is observed for a consecutive period, the penalty will be ₹2,000 per occasion. Where the same deviation is observed for three consecutive periods, the matter will be referred to the Member Committee.
All Issuers and R&T Agents are advised to take note of the amended penalty provisions.
Please refer to the document attached below for more details.
[Circular No.: NSDL/CIR/II/46/2026]
