The Securities and Exchange Board of India (SEBI) has extended the deadline for making nominations or opting out of a nomination for trading and demat account holders from March 31, 2023 to September 30, 2023. This means that all existing eligible trading and demat account holders now have until September 30, 2023 to provide a choice of nomination.
Previously, SEBI had asked all eligible trading and demat account holders to provide a choice of nomination on or before March 31, 2022. However, this deadline was extended by one year to March 31, 2023. Brokers have reported that more than half of their retail clients are yet to comply with the norms.
If trading and demat account holders fail to provide a choice of nomination by the extended deadline of September 30, 2023, their accounts may be frozen for debits. It is important for eligible account holders to comply with SEBI’s norms and provide a choice of nomination to avoid any inconvenience or disruptions to their accounts.
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Categories: Mutual Fund, Personal Finance
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