With reference to the SEBI Circular (SEBI/HO/IMD/IMD-I DOF1/P/CIR/2022/105), dated July 29, 2022, Investors subscribing to mutual fund units on or after October 1, 2022, should either provide “Nomination” details OR they need to confirm on “Opting out of nomination”. This would be applicable for all the new folios created with effect from October 1, 2022, and will be updated at Folio level.
Existing Folios without Nomination are to be remediated with either of the option – Nomination / Opt-out of Nomination, on or before December 31, 2023, failing which the folios shall be frozen for debits/redemption.
Extension of Timelines to update your Equity account nomination
Existing trading and Demat accounts without Nomination are to be remediated with either of the options – Nomination / Opt-out of Nomination, on or before September 30, 2023, failing which the accounts shall be frozen for debits and trading.
This has now been extended to December 31, 2023. Please update your nomination before December 31, 2023 for seamless processing