Last date for nominee update in ‘demat account’ increased, SEBI’s big relief

Demat Account Nominee Detail Update Last Date: If you also do trading in the stock market, then market regulator SEBI has given a big relief. SEBI has extended the last date for nominee detail update in ‘demat accounts’.

SEBI has extended the last date for nominee detail update in ‘demat accounts’.

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Market regulator SEBI monitoring the stock market (SEBI) Has given great relief to those trading in the stock market. SEBI has extended the last date for updating the details related to nominee registration for demat account by 6 months. Now people can do this work till 30 September.

According to SEBI’s statement, people can now choose to register a nominee in their demat account or opt out of this option by September 30, 2023. Earlier this deadline was 31 March 2023.

Rule was made in July 2021

SEBI had issued a circular in July 2021 asking all existing trading and demat account holders to update the details of the ‘nominee’. Then the last date for this was kept on 31 March 2022.

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There was an order to freeze the trading and demat accounts of those who did not do so. After this, this last date was first extended till 31 March 2023, now its last date has been extended till 30 September 2023.

According to SEBI’s circular, the details of ‘nominee’ have to be given to any person who is entitled to receive the amount invested in the event of sudden demise of the demat account holder. This arrangement is just like a ‘nominee’ to be registered in a bank account or insurance company.

(This news is being updated)