Tuesday, August 28, 2012

No-frills demat account

Securities and Exchange Board of India (SEBI), introduces no-frills demat account for small investors. The annual maintenance charge will be slab based. SEBI asked all depository participants (DPs) to make available a Basic Services Demat Account (BSDA) with limited services and reduced costs for retail individual investors. This is for those investors whose holdings in demat account does not exceed Rs.2 lakh at any point of time.
The Annual Maintenance Charge(AMC) slab is as below:
   Up to Rs.50,000, AMC will be nil while it will be Rs.100 between Rs.50,001-200,000.

Worth reading