What is the new trading account nomination rule?
nomination in eligible demat accounts and submission of PAN, nomination, and KYC information by physical security holders have been extended by the Securities and Exchange Board of India (SEBI).
Demat new rule
The submission of a 'Choice of nomination' for trading accounts has been made voluntary as a move towards making doing business easier, stated SEBI in a notification issued on September 27, 2023.
Also read: Trading account nominee rule changed; last date to add demat account nomination extended
According to the SEBI new rule, “Submission of ‘choice of nomination’ for trading accounts has been made voluntary as a step towards ease of doing business. With respect to demat accounts, it has been decided to extend the last date for submission of ‘choice of nomination’ to December 31, 2023.”
Also, it has been decided to extend the last date for submission of PAN, Nomination, Contact details, Bank A/c details and Specimen signature for their corresponding folio numbers to December 31, 2023.
Also read: Has the last date to add nominee to mutual funds been extended?
How to add nominee to demat account
Step 1: Click on the URL (http://nsdl.co.in/dpmplus.php)
Step 2: Subscribe for the facility. Enter the DP ID + Client ID + PAN and OTP
Step 3: Post successful authentication, submit the choice of selection i.e., Opt-in for nomination by clicking on ‘I wish to Nominate’ or opt-out of the nomination by clicking on ‘Optout’ of nomination.
Step 4: Click on ‘I wish to nominate’. Enter the details of the nominee(s) and then click on Save & Next ..
Step 5: Confirm and verify the nomination details by an OTP authentication
Step 6: On successful submission of OTP at eSign Service Provider's page, Client will be then redirected to
