Demat Account: A Demat Account is required to buy and store shares in the stock market. If you also have a Demat account and have not completed the nomination, you may face big problems later. Securities and Exchange Board of India (SEBI) has fixed September 30 as the last date for adding Nominees in the demat account.
If you do not complete the nomination work within this stipulated period, you may face big problems later. SEBI will freeze such accounts. In this case, you will not be able to buy shares.
Deadline Has Been Extended Many Times
It is worth noting that market regulator SEBI has extended the deadline for completing nomination in demat account several times. Earlier, the deadline for completing this work ended on March 31, 2023, but on March 27, SEBI extended this deadline by issuing a notification. For this, SEBI has given additional time of 6 months to the investors. In such a situation, if you have not completed this work yet, then do it as soon as possible.
In case of non-fulfilment of nomination, SEBI will deactivate such an account and re-activate it only after completing this task.
How To Add Nominee Name In Demat Account
- First, to complete the nomination work in the demat account, log in to the demat account.
- After this, please select the option of My Nominees in the profile section.
- By going here, choose the option of Add Nominee or opt-out.
- After this, add the nominee details and upload any ID proof of the Nominee here.
- After this, choose the share percentage of the Nominee.
- Then, further, e-sign the document and enter the Aadhaar OTP.
- After this, the verification process will take 24 to 48 hours, and then the work of this nomination will be completed.
