My broker has converted my normal demat account into BSDA without asking me and said it is as per SEBI rule…is it right?
hElLO tRaDeR,
"Sebi asks DPs to convert eligible demat accounts into Basic Services Demat Account"
http://articles.economictimes.indiatimes.com/2015-12-11/news/68960147_1_depository-participants-basic-services-demat-account-bsda
STANDARD and BSDA Demat's function the same, except for the restriction on charges that can be levied on them by your demat provider. This saves you from having to pay the annual maintenance charges and still own a valid demat account for lifetime.
If the value of your holdings is up to Rs 50,000 there won't be any annual maintenance charge. However, if the value of your holding is in between Rs 50,001 to Rs 200,000 you will have to pay a fee of Rs 100 as AMC.
BSDA's are automatically upgraded to STANDARD as soon as your holdings cross the above thresholds.
Some reasons How this will benefit the investors and Why has been suggested by The SEBI:
http://tradingqna.com/1223/bsda-enough-for-only-intraday-trading-instead-normal-demat