In a move aimed at easing investor compliance and streamlining market processes, capital markets regulator SEBI on Wednesday announced a set of reforms covering the issuance of duplicate securities and the Basic Services Demat Account – BSDA framework.
To make the process of issuing duplicate securities faster, more efficient and investor-friendly, SEBI has doubled the monetary threshold for the simplified documentation process to Rs.10 lakh from the earlier Rs. 5 lakh. Under the revised norms, investors holding securities valued up to Rs.10 lakh will now be required to submit fewer documents, addressing inconsistencies and reducing procedural hurdles.
SEBI has also relaxed BSDA norms by excluding Zero Coupon Zero Principal – ZCZP bonds and delisted securities from the valuation threshold used to determine BSDA eligibility. The regulator said this step is intended to further enhance the BSDA facility, make investing simpler for investors and reduce the compliance burden for depository participants.
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