Market regulator SEBI is targeting demat accounts which have not added a nominee. SEBI has given time till September 30 to investors to do this work. In such a situation, if you miss this deadline, you may suffer huge loss.
To invest in the share market, a demat account is required. If you also have a Demat account then this news is useful for you. Actually, nomination has to be filed in the demat account as per the market regulator SEBI. If you have not yet filed the nomination in your demat account, your account will be deactivated after 7 days. The deadline for updating nomination in Demat account to invest in the share market is September 30, 2023. In such a situation, you have only time left till next week.
Will the deadline be extended again?
Market regulator SEBI has issued deadlines for adding nominees several times before. In such a situation, people are hopeful that this time again SEBI can extend the deadline. Actually, earlier the deadline for filing nominee was ending on March 31, 2023, but on March 27, SEBI had extended this deadline by issuing a notification. Due to incomplete nomination, SEBI will deactivate such account and it can be reactivated only after the nomination work is completed.
Act now to nominate your loved ones in your demat account before the deadline on September 30, 2023.
Don’t delay, start the nomination process now and secure the financial future of your loved ones.
To opt -in for nomination in your demat account,checkout our nomination series… pic.twitter.com/NFsJf49nZ5
— NSDL – National Securities Depository Limited (@NSDL_Depository) September 12, 2023
Will not be able to withdraw money
If your account gets deactivated without filing the nomination, you will not be able to do many things. You will neither be able to deposit money in your demat account nor withdraw it. In such a situation, you should do this work before 30th September to keep your account active. Let us tell you how you can add a nominee.
Add nominee like this
- To complete the nomination work in Demat account, first login to the Demat account.
- Now select the option of My Nominees in the profile section.
- After this select the option of Add Nominee or opt-out.
- Now add the nominee details and upload any ID proof of the nominee here.
- After this select the share percentage of the nominee.
- Then further e-sign the document and enter Aadhaar OTP.
- The verification process will take 24 to 48 hours and then the nomination work will be completed.
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