BSDA Declaration

As per regulations, if a Demat account remains inactive for a period of two months, it will automatically be converted into a BSDA (Basic Services Demat Account). To prevent this conversion, Custody obtains a declaration from clients.

Dear Sir/Madam, I/We have read and understood the Securities and Exchange Board of India’s guidelines for facility for a BSDA. I/We are aware that if I/we are eligible to open a depository account as a BSDA, the account shall be opened as a BSDA. However, I/We hereby opt out of BSDA i.e. avail the facility of regular account. Regards, XYZ Open Draft Email