Demat Account: There is a special information for Demat account holders. If you also invest in mutual funds, then in any case save your account by completing this work before 31st December.
Demat Account: If you also keep a demat account and invest in mutual funds, then be careful. You will have to take special care of 31st December. Market regulator SEBI has fixed the last date for adding nominees in demat and mutual fund accounts. If you do not add a nominee by December 31, your account will be closed from the new year.
Legal disputes will end, assets will remain safe
Securities and Exchange Board of India (SEBI) said that we want protection of investors and their investments. We want that the assets of those running demat accounts and mutual fund accounts should remain safe. There should not be any dispute after any unfortunate incident and these assets should easily go to their nominee. Often disputes arise in such cases. Due to this, assets in demat and mutual fund accounts remain stuck for a long time. Therefore, it has been made necessary to provide information about the nominee. Time is given till 31st December to add nominee. After that, action will be taken against the accounts which do not do so.
Name can be easily added online
According to market regulator SEBI, demat account holders who have already given nomination details are not required to do so again. Their account will remain safe. Adding nominee name in demat account is a very easy process. This can be settled online sitting at home. Nomination or declaration forms can also be filled online using the e-signature facility.
Who can be made nominee?
People running a demat account can also nominate their father-mother, husband-wife, brother-sister, child or any other person. A minor can also be added as a nominee. However, details of the minor’s parents will have to be given.
Here is the process to add nominee
- 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 the nominee share in percentage.
- E-sign the document with Aadhaar OTP. After checking the details of the nominee, he/she will be linked to your demat account.
