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NISM Certifications · NISM-Series-VI: Depository Operations · Introduction to Depository

A depository participant wants to open a Basic Services Demat Account (BSDA) for Ms. Leela Nair, an individual who has no other demat account. Which condition must be satisfied for her to be eligible for a BSDA?

A Basic Services Demat Account is available to an individual who holds only one demat account, as sole or first holder, across all depositories, and whose holdings are within the prescribed value limits. NRI status or multiple joint holders are not criteria.

  1. AShe must hold only a single demat account in her sole or first holder name across depositoriesCorrect
  2. BShe must hold securities only in physical form
  3. CShe must be a non-resident Indian investor
  4. DShe must be a joint holder with at least two other persons

Explanation

BSDA is meant for small investors, an individual must have only one demat account in which she is the sole or first holder, and securities value must stay within prescribed limits. Physical holding, NRI status or joint holders are not requirements.

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