SEBI notifies norms on Mandatory nomination for eligible trading and Demat accounts.

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The Securities and Exchange Board of India vide its notification dated 23rd July 2021 has notified that the Investors opening new trading or Demat account(s) on or after October 01, 2021, shall have the choice of providing nomination or opting out nomination.

The nomination and Declaration form shall be signed under wet signature of the account holder(s) and witness shall not be required.  However, if the account holder(s) affixes a thumb impression (instead of wet signature), then witness signature shall be required in the forms.

Further, all existing eligible trading and Demat account holders shall provide choice of nomination on or before March 31, 2022,  failing  which  the  trading  accounts  shall  be frozen for trading and demat account shall be frozen for debits.

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