Demat and Mutual Fund Holders Deadline: Do you also invest in stock market or mutual funds? So for this you must have a demat and mutual fund account? If yes, then quickly know some important information, otherwise you may suffer loss and your account may get frozen. In such a situation, you will neither be able to withdraw nor invest the invested money.
Actually, the last date for demat and mutual fund account holders to add the name of a nominee to the account is December 31. Before this, account holders will have to add the nominee name. If they do not do this then their account can also be closed.
Why is it important to add nominee name in demat account?
Securities and Exchange Board of India (SEBI) has ordered to add nominee name for demat account holders. If the account holder does not do this, then he will neither be able to buy nor sell shares on BSE and NSE. It is mandatory for investors to add the nominee name in the account by December 31, 2023.
Add Nominee to Mutual Fund
It is also necessary for the demat account holder to link the nominee name with the mutual fund account. Complete this work before 31st December 2023, failing which your account may be banned. It has been made mandatory by SEBI for the account holders of stock market and mutual funds to add the nominee name so that their assets remain safe even in their absence and are divided into the parts decided by them.
How to add a Nominee Name to a Mutual Fund Account?
Earlier the last date was 30th September
The date for adding nominee name in demat and mutual accounts has been extended. Earlier, the last date was 30 September 2023, but then it was extended to 31 December 2023. You can easily add the nominee name by logging into your account. Apart from this, if you want, you can also remove the name added earlier.
