In a bid to engage and empower India's youth, the National Securities Depository (NSDL) unveiled the Yuva Plan (YUP).
According to NSDL, this initiative allows individuals under the age of 24 to open new demat accounts with the attractive benefit of zero settlement fees for the first 36 months.
By removing financial barriers, NSDL aims to make participation in the securities market more accessible and affordable for young investors, fostering a new generation of financially savvy individuals ready to explore investment opportunities.
S Gopalan, Interim Managing Director of NSDL, highlighted the organisation's commitment to innovation and affordability.
"At NSDL, we are always committed to bringing innovative products and offering them at an affordable fee. Empowering the youth of India is the latest initiative, where we will waive settlement fees for three years, which I am sure will help young people access the securities markets at a reduced cost," he stated.
NSDL had previously announced a revised charge structure, introducing a flat fee of Rs 4.00 per debit instruction in clients' demat accounts, effective from 01 October.
This move replaced the earlier slab-based settlement fee structure, streamlining the costs associated with demat account operations for all its Depository Participants (DPs).
The revised charge structure and the introduction of the YUP plan reflect NSDL's ongoing efforts to adapt to the evolving needs of investors, particularly younger demographics eager to engage with the financial markets. (ANI)
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