Mumbai, Feb. 28 (PTI): Demat account will be opened only on the basis of PAN Card details, Central Depository Services Ltd (CDSL) today said after Finance Minister P Chidambaram’s Budget proposal that PAN will be the sole identification number for participation in the security market.

From April 1 last year, aspiring demat account holders were asked to provide PAN details for opening deat accounts.

Further, demat accounts which were opened prior to April 1, 2006 and which were not PAN-compliant as on December 31, 2006, were suspended for debits with effect from January 1, 2007.

There were 22.99 lakh demat account holders registered with CDSL of February 23 out of which 17.79 lakh demat accounts were active meaning they had provided PAN details, CDSL said.

There were 1.98 lakh demat accounts registered with CDSL remained suspended for debits and there were 3.22 lakh demat accounts suspended but without any balance, CDSL added.

Related posts:

1. Opening an account