SEBI Extends Nomination Filing Deadline For Trading & Demat Account Holders
The Demat & Trading Accounts will be frozen from September 30, 2023. On failure to update the nomination for Demat & trading account - SEBI.
An editor at Myitronline
The Securities and Exchange Board of India (SEBI) extended the deadline for providing the nomination for the demat and trading accounts till 30 September 2023. All the existing demat & trading account holders must provide a nominee to avoid the freezing of their demat & trading account.
Earlier SEBI mandated all eligible demat account holders to add beneficiary details to their demat accounts by the 31st of March 2023. As of now, this deadline has been extended till 30 SEPT 2023.
If the investors fail to add a nominee to their demat & trading account by the prescribed deadline, then they will not be able to trade or make investments. On failing to update the nomination details, the demat accounts will be frozen with the effective date of 30 September 2023 - Said in a Circular By SEBI
Steps To Add Nominee To The Demat Account
- The first step is to log in to your demat account. Then go to the section 'My nominees' under the profile details.
- Then click on the 'Add nominee' or 'opt-out' option & fill out the details of the nominee with his/her ID proof.
- Next, enter the nominee share in percentage that you would like to assign to the additional nominee after uploading all necessary documentation.
- Lastly, E-sign the document with Aadhaar OTP and the details of the nominee will be processed.
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