MF and Demat Account Nominee Last Date Extended: This move by the market regulator (SEBI) aims to help investors secure their assets and hand them over to their legal heirs.
New Delhi: There is important news for stock market investors. If you have not yet updated the nominee in your trading and demat account, then you have one last chance. The market regulator has extended the deadline for updating the nominee. The Securities and Exchange Board of India (SEBI) on Wednesday extended the deadline for adding Demat Account Nominees and Mutual Funds Nomination for mutual fund account holders till June 30 next year.
This move by the market regulator (SEBI) is aimed at helping investors secure their assets and hand them over to their legal heirs. Earlier, the last date for updating nomination in demat account and mutual fund folios was kept till 31st December.
What is Demat Account?
Let us tell you that Demat account is used by investors for buying and selling of shares and mutual fund units for trading in the stock market. According to SEBI rules, it is mandatory for investors to have a demat account to buy or sell stocks from the share market.
“In view of the applications received from market participants, for ease of compliance and for the convenience of investors, the last date for submission of ‘choice of nomination’ for demat accounts and mutual fund folios is extended to June 30, 2024,” SEBI said in a circular. It has been decided.
Instructions to encourage regarding nomination
Along with this, SEBI asked asset management companies (AMCs), depository participants and registrars and transfer agents (RTAs) to encourage demat account holders and mutual fund unit holders to make nomination or exit by sending emails or SMS every fortnight. Is.
