The country’s market regulator Securities and Exchange Board of India i.e. SEBI has given time till December 31 to add nominee from Demat account and mutual fund account.
New Delhi. If you are a Demat Account Holder and a mutual fund investor then this is important news for you. Actually, the country’s market regulator Securities and Exchange Board of India i.e. SEBI has given time till December 31 to add nominee from Demat account and mutual fund account. In simple language, if you have not yet added the nominee in your demat account and mutual fund account, then do this by 31st December, otherwise your account may be closed.
The purpose of this move by market regulator SEBI is to help investors secure their assets and hand them over to their legal heirs. Demat account holders who have already submitted nomination details do not need to submit it again. It is easy to add the name of the nominee in the demat account. This work can be done online. Nomination or declaration forms can also be filled online using the e-signature facility.
Who can be made the nominee?
Father, mother, spouse, sibling, child or any other person can be nominated. A minor can also be added as a nominee. Details of the minor’s parents will have to be given.
Process to add nominee in demat account
- First of all log in to your demat account.
- Go to ‘Profile segment’ and go to ‘My nominees’
- Select ‘add nominee’ or ‘opt-out’.
- Fill the details and upload an ID proof of the nominee
- Enter nominee share in percentage
- E-sign the document with Aadhaar OTP. After checking the details of the nominee, the nominee will be added.
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