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Demat Account: Important news for stock market investors! SEBI’s big announcement regarding demat account – News

Demat Account: Important news for stock market investors. SEBI has made a big announcement for the investors. From PAN card and Aadhar link (Aadhaar-PAN link) to trading-demat account, it is mandatory to enter the name of the nominee. SEBI had also declared the deadline for nomination on 31 March 2022. But now SEBI has extended it for one year. That is, now investors can do this work till 31 March 2023.

SEBI made a big announcement

It is worth noting that according to the rules of SEBI, for those who have a demat or trading account, SEBI has made a rule to register the name of the nominee by 31 March. Those who have not yet made nomination in the demat or trading account can do so till March 31, 2023. Earlier its last date was March 31, 2022. Now it has been extended for one year.

SEBI issued circular

The Securities Exchange Board of India has issued a circular for this. In this, SEBI has said, ‘No witness is required to make a nominee. It will be necessary for the account holder to sign the nomination form. Further, the nomination/declaration form filed online using the e-sign facility will also not require a witness. However, if the account holder uses thumb impression instead of signature, the form should also bear the signature of a witness.

How to do nomination in demat

If you also want to add the name of the nominee in your account, then first you can fill the nomination form and sign it and courier it to the address of the head office (broker company with which the demat account is opened. eg zerodha.) .
– Nomination will be applicable on your trading and demat account, this nominee will be added to your demat account, same nomination will be applicable for your coin (mutual fund) holdings also.
You have to send the ID proof of the nominee along with the nomination form.
For this you can send any ID proof like Aadhar, Voter ID, Driving License etc.
If you want to change the nominee after opening your account and making someone a nominee, then you will have to pay 25+18% GST charges.
For this, you have to send the hard copy of the nomination form along with the account modification form.

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