New rule! If you have invested in a mutual fund, settle this within 12 days; Otherwise the account will be closed

New Delhi: If you also invest in mutual funds and also have a demat account, then this knowledge is very important for you. You have to complete a necessary work in this month i.e. till 30 September 2023 otherwise you may suffer huge losses. Let’s know what is the new rule.

This is the new rule

As per the new rule, those who have not made the nomination till September 30, may have their mutual fund account frozen. That means your folio will be frozen from October 1. According to the records of registrar and transfer agent CAMS, around 25 lakh PAN holders are yet to update their nomination information. Along with this, nomination in demat account is required. If you do not do this, you cannot buy and sell shares in the stock market.

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How to fill nominee details

You can fill nomination details both online and offline. You can submit nomination form in DP branch in offline mode. Online you have to go to your intermediary web portal or NSDL web portal.

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For that first you have to go to NSDL portal-

Now click on ‘Online Nominate’ option given on home page.

Enter your DP ID, Client ID, PAN ID and submit the OTP.

Click on ‘I want to nominate’ or ‘I don’t want to nominate’ option.

If you have selected the option ‘I want to nominate’, a new page will open. Fill in the nominee details.

On the e-line service provider’s page, enable the checkbox and click on ‘Continue’.

Finally verify the OTP.

After submitting the OTP you will get a confirmation. As per your knowledge, you can appoint maximum 3 nominees.

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