New Rules: If you also invest in Mutual Funds and you also have a demat account, then this news is very important for you. You will have to complete an important work by this month i.e. 30 September 2023, otherwise you may suffer huge losses. Let us know what is the new rule.
This is the new rule
According to the new rules, those who do not make nomination by September 30, their mutual fund folios may be frozen. That means your folio will be frozen from October 1 itself. According to the records of Registrar and Transfer Agent (RTA) CAMS, around 25 lakh PAN holders have not yet updated their nomination information. Along with this, nomination is also necessary for you in Demat Account. If you do not do this then you will be able to buy or sell shares in the stock market.
How to fill nominee details? (How to Update Nominee) – You can fill the nomination details both online and offline. You can submit the nomination form in DP branch in offline mode. For the online method, you will have to go to your intermediary’s web portal or NSDL web portal.
- For this, first go to NSDL portal – https://nsdl.co.in/
Now click on the ‘Nominate Online’ option given on the home page. - Enter your DP ID, Client ID, PAN, submit OTP.
- Select the option ‘I want to nominate’ or ‘I do not want to nominate’.
- If you select ‘I want to nominate’, a new page will open. Enter nominee details.
- On the e-sign service provider page, enable the checkbox and click ‘Proceed’.
- Finally verify OTP.
After submitting the OTP you will get a confirmation. Please note that you can appoint a maximum of 3 nominees.
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