Market Regulator Securities And Exchange Board Of India (SEBI) Has Made It Mandatory To Add Nominees In All Demat Accounts By December 31, 2023. Its Objective Is That If The Demat Account Holder Dies, His Nominees Can Easily Get Rights Over His Property.
For Which Account Holders Is It Mandatory To Fill The Nomination?
All Those Demat Account Holders Who Have Their Own Individual Demat Account Are Required To Fill The Nomination. Joint Demat Account Holders Can Also Fill The Nomination. However, Filling The Nominee Is Not Possible In Non-Individual Accounts.
Who Can Be The Nominee?
A Family Member, Friend Or Any Other Person Related To The Demat Account Holder Can Also Be A Nominee. You Can Also Make More Than One Nominee. For This You Will Have To Decide The Ratio Of Assets In The Demat Account.
Nomination Process
You Can Easily Download The Nomination Form From Your DP (Depository Participant) Or From The Online Website. For This Any Person Will Have To Provide His Demat Account Number And Personal Information. Also, The Demat Account Holder Will Have To Tell The Name, Relationship, Date Of Birth And Address Etc. Of The Person Whom He Wants To Make A Nominee. At The Same Time, If There Is More Than One Nominee, Then Their Ratio In The Property Can Also Be Decided.
How To Fill Nomination Online?
You Can Easily Fill The Nomination By Visiting The Depository’s Website. For This You Will Have To Fill The Required Information In The Form. After This, Verification Will Have To Be Done Through Aadhaar OTP. Then Your Nominee Will Be Registered In The Demat Account.
