Demat Account: A demat account is required to buy and store shares in the stock market. If you also have a demat account and you have not completed the nomination in it, then you may have to face big problems later.
Demat Account : A demat account is required to buy and store shares in the stock market. If you also have a demat account and you have not completed the nomination in it, then you may have to face big problems later. The Securities and Exchange Board of India (SEBI) has fixed September 30 as the last date for adding a nominee to a demat account. If you do not complete the demat account registration within this stipulated period, then you may have to face big problems later. SEBI will freeze such accounts. In such a situation, you will not be able to buy or sell shares.
The deadline has been extended several times
Markets regulator SEBI has already extended the deadline for completing nomination in demat account several times. Earlier, the deadline for completing this work was ending on March 31, 2023, but on March 27, SEBI had extended this deadline by issuing a notification. For this, SEBI has given additional time of 6 months to the investors. In such a situation, if you have not completed this work yet, then do it as soon as possible. In case of non-completion of nomination, SEBI will deactivate such account and then it can be reactivated only after completion of nomination work.
How to add nominee name in demat account
- To complete the nomination work in Demat account, first login to the Demat account.
- After this, select the option of My Nominees in the profile section.
- Go here and choose the option of Add Nominee or Opt-out.
- After this add the information of the nominee. Upload any ID proof of the nominee here.
- After that choose the share percentage of the nominee.
- Then further e-sign the document and enter Aadhaar OTP.
- After this, the verification process will take 24 to 48 hours and then the enrollment work will be completed.
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