BSDA, or Basic Service Demat Account, is a specific type of Demat account designed for eligible Indian citizens. It was introduced by the Securities & Exchange Board of India (SEBI) in 2012.
Key Features of BSDA
The primary purpose of BSDA is to encourage wider participation in the securities market by reducing the costs associated with maintaining a Demat account. Here's a breakdown:
- Eligibility: Available to eligible Indian citizens.
- Initiation: Introduced by SEBI in 2012.
- Purpose: To reduce the cost of Demat account maintenance.
