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Demat Account Nominee Deadline: The month of March is going on in its last phase. With the beginning of the month of April, the new financial year 2023-24 (FY 2023-24) will start. There are going to be changes in many financial rules in this month. In such a situation, till 31st March there is a deadline for many works (31st March Financial Deadline). One of these is the deadline for adding a nominee to the Demat account. Investors cannot buy or sell shares in the share market without a demat and trading account. If you do not do this work related to your demat account by March 31, then your account will be frozen.
demat account will be frozen
The Securities and Exchange Board of India (SEBI) had earlier fixed March 31, 2022 as the deadline for nomination in a demat account, which was later extended to March 31, 2023. According to SEBI’s notification, if a demat account holder does not add a nominee to his account, then his account will be frozen. After this you will not be able to invest money in the stock market. According to this circular, adding a nominee is optional for account holders who have added a nominee before July 2021. If you have not completed this work, then definitely finish this work in the next 7 days. You can do the work of adding nominee in demat account sitting at home. Let us know about its easy process-
Know the easy way of nomination in demat account-
- To add a nominee, first of all visit https://eservices.nsdl.com/instademat-kyc-nomination/#/login.
- Here you have to enter DP ID, Client ID, PAN number and mobile number.
- After this, the name of the nominee has to be added to the demat account.
- In the last OTP will come on your mobile number to confirm the nomination, enter it.
- After this the process of your nomination will be completed.
Can there be more than one nominee?
According to SEBI’s circular, the names of three persons can be added as nominees in a demat account. If you add more than one nominee, then you will also have to enter the ratio in which the amount of shares deposited in the account will be divided.
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