As per the statement of the Central Depository Services Ltd. (CDSL) the move will benefit new demat account holders as they will not have to make the payment of Rs. 100 as stamp duty that was charged earlier for agreements concerning demat account.
With the new guidelines in place, SEBI requires depository participants to provide demat account holders with a copy of the new document and obtain its acknowledgement along with other requirements. The regulator also said that the new document will be binding and mandatory for the depository participants as well as new and existing demat account holders.
With inputs from PTI