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Sebi Extends Deadline For Nominating Demat Accounts
The deadline for submitting the 'choice of nomination' has been extended to 31 December, 2023.
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The Securities and Exchange Board of India (Sebi) has extended the deadline for nominating eligible demat accounts and submitting PAN, nomination, and KYC details for physical security holders.
As per the new rule, opting for a 'Choice of nomination' for trading accounts is now voluntary, simplifying business procedures. Sebi has also decided to prolong the deadline for submitting 'choice of nomination' to 31 December, 2023, along with PAN, Nomination, Contact details, Bank A/c details, and Specimen signature for corresponding folio numbers.
To add a nominee to a demat account, one needs to visit the URL (http://nsdl.co.in/dpmplus.php), subscribe for the facility and provide DP ID + Client ID + PAN along with OTP, after successful authentication, choose to opt-in for nomination by selecting 'I wish to Nominate' or opt-out by clicking 'Optout' of nomination, and enter the nominee(s) details and save.
Finally, one needs to confirm and verify the nomination details with OTP authentication and complete Aadhaar e-Sign and submit OTP for finalisation.