SEBI Decision on Demat Account Nominee: News of great relief has come for Demat Account holders. Stock market regulator SEBI (Securities and Exchange Board of India) has extended the last date for adding nominee for existing demat account holders by three months. If you have a demat account and have not completed the nomination work in it, then you now have time till 31st December to complete this work. Earlier, the last date to add nominee in your demat accounts was 30th September. In this way it has been extended for three months.
Earlier the date was till 30 September
Securities and Exchange Board of India (SEBI) said in a circular that it has been decided to extend the last date for submission of details of enrollment or choice of nominee in respect of demat accounts to December 31, 2023. The purpose of this step taken by SEBI today is to keep investors’ money safe and help them in handing over their assets to their legal heirs. According to the earlier notification of SEBI, the accounts in which the nominee was not added by 30th September were going to be frozen.
What other decisions has SEBI taken today
Apart from this, SEBI has also given time till December 31 to physical equity holders to submit specimen signatures for PAN, nominee, contact details, bank account details and their respective folio numbers. They have also been given three more months to get their KYC done and the last date has been fixed as December 31, 2023. Investors can also choose the option of not nominating anyone through a declaration form. To make business easier, enrollment option for demat accounts has been made voluntary.
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