If you are a trading or demat account holder then this news is for you. Actually, SEBI, which regulates the stock market, has issued a circular. In this circular, SEBI said that the existing eligible trading and demat account holders will have to give the option of nomination by 31 March 2022. Failure to do so will result in suspension of their trading and demat accounts.
These changes from October 1: Apart from this, from October 1, investors opening a new trading and demat account will be given the option of nomination. At the same time, if the investor wishes, he can open an account without even nominating anyone. According to the circular issued by the market regulator, a format has been issued in this regard.
No witness required: Apart from this, the account holder will have to sign the nomination and declaration form, but no witness will be required. However, if the account holder affixes thumb impression, the signature of the witness will be required. According to the circular, online nomination and declaration forms can also be signed using the e-sign facility and in that case no witness will be required.
What is Demat: This is the account through which you can invest in the stock market. Through this you can buy or sell shares. Apart from this, one can earn profits through investments like IPO, SIP, mutual funds and intraday.
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