A Basic Services Demat Account is for individuals who have only one demat account (across all depositories) and the value of their holdings doesn’t exceed Rs. 2 lakhs each for non-debt securities (like equities) and debt securities at any time.
The Annual Maintenance charges (AMC) structure for BSDA is as mentioned below:
| Security Type | Slabs | Charges |
|---|---|---|
| For Non-Debt Securities | Up to Rs. 50,000/- | No AMC |
| For Non-Debt Securities | Rs. 50,001 to Rs. 2,00,000/- | Up to Rs. 100/- |
| For Debt Securities | Up to Rs. 1,00,000/- | No AMC |
| For Debt Securities | Rs. 1,00,001 to Rs. 2,00,000/- | Up to Rs. 100/- |
Please check SEBI’s website or the relevant depository’s website for the latest rules. When you have a bank account, a demat account, and a trading account together, it’s often called a “3-in-1” account. You can open these three accounts separately with different brokers or institutions, or you can choose a single broker or institution that offers all three accounts together. You can find the list of SEBI registered stock brokers and depository participants on SEBI’s official website (www.sebi.gov.in) or on the websites of the respective Stock Exchanges or depositories.
Power of Attorney (PoA) is a crucial document as it grants someone else the authority to manage your accounts and finances. In the securities market, you may grant PoA to your stock broker or depository participant to operate your demat and bank accounts for share transactions and fund transfers. However, signing a PoA is optional according to SEBI guidelines. If you find it beneficial, you can sign it, and you have the right to revoke it at any time.
If your stock broker transfers shares in your account without authorization, you should immediately raise the issue with them. If you are not satisfied with their response, you can escalate the matter to the Depository/Exchange.
If you decide to execute a PoA in favor of your stock broker or depository participant, refer to the guidelines provided by SEBI, Stock Exchanges, or Depositories on their official websites.
Nomination is a feature that allows an individual investor to appoint someone who can claim the securities held in their demat accounts or the redemption proceeds of mutual fund units in the event of the investor’s death.
Disclaimer – Prosperia is just an advice and is not a blanket Fatwa authority! Hence the individual can decide to invest based on the recommendation provided by Prosperia Team. The people behind Prosperia will not be liable in any way on the judgment day of Qayamat in the hereafter or this world. If you ever doubt your investments and income activities, do always reach out to a trusted & reputed Aalim/Mufti of your particular Maslak for 100% assured advice.
Investments in securities markets are subject to market risks. Please read all related documents carefully.
