MANU/SDEP/0004/2019

Ministry : Securities and Exchange Board of India

Department/Board : Market Regulation Department

Circular No. : MRD/DoP2DSA2/CIR/P/2019/51

Date : 10.04.2019

Notification/ Circulars Referred : Circulars CIR/MRD/DP/22/2012 dated August 27, 2012 MANU/SDCD/0004/2012;CIR/MRD/DP/20/2015 dated December 11, 2015 MANU/SDEP/0011/2015

Citing Reference:
Circulars CIR/MRD/DP/22/2012 dated August 27, 2012 MANU/SDCD/0004/2012  Referred

CIR/MRD/DP/20/2015 dated December 11, 2015 MANU/SDEP/0011/2015  Referred

To,

The Depositories Dear Sir/ Madam,

Separate BSDA limit for Debt Securities

1. SEBI vide circulars CIR/MRD/DP/22/2012 dated August 27, 2012 and CIR/MRD/DP/20/2015 dated December 11, 2015, introduced the facility of "Basic Services Demat Account" (BSDA) with limited services for eligible individuals with the objective of achieving wider financial inclusion and to encourage holding of demat accounts.

2. In order to further boost participation in Debt Market and based on representation received from market participants, in partial modification of the abovementioned SEBI circulars, it has been decided to revise the structure of charges for debt securities as defined in SEBI (Issue and Listing of Debt Securities) Regulations, 2008, as given below:

a) No AMC shall be levied in case the value of holdings of debt securities is up to Rs. 1 lakh and a maximum AMC of Rs. 100 shall be levied if the value of holdings of debt securities is between Rs. 1,00,001 and Rs.2,00,000.

and

b) No AMC shall be levied in case the value of holdings other than debt securities is below Rs. 50,000 and a maximum AMC of Rs. 100 shall be levied if the value of holdings other than debt securities is between Rs.50,001 and Rs.2,00,000.