Demat Account Nomination Update: If you also have a Demat account, then very important news has come for you. Nomination in demat account has been made mandatory. The market regulator has said that those who have already filled the nomination, they do not need to do this work.
Guidelines have been issued by SEBI, in which it has been said that it is necessary for all investors to fill the nomination. If an investor misses or does not do this, his account will be frozen, which means that you will not be able to do any transaction from the demat account.
Only so many days to add nominations
According to the notification issued by SEBI, the last date for adding nominee in the demat account has been kept as 30th September. If this work is not completed before the deadline then investors will be stopped from making transactions.
How to add nominee
With the help of NSDL you can nominate someone for your demat account online. This rule applies to residents and individuals with a single demat account. Demat account holders can add a maximum of three nominees using this option.
Process to add nominee in NSDL demat account
- To add a nominee, first click on https://eservices.nsdl.com/instademat-kyc-nomination/#/login.
- Now you will have to provide information about DP ID, Client ID and PAN.
- After this, OTP will come on the mobile number registered with your demat account.
- Now select ‘Nomination’ or click on Opt Out.
- Then e-sign using Aadhaar.
Who can add nominee
Any single person can be made a nominee. Whereas society, trust, body corporate, partnership firm, Hindu undivided family cannot be added to the demat account as a nominee. However, if you want to update or add another nominee later, you can do so.