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Nomination facility for your joint holdings
Nita Mukherjee
0
There is a positive development for holders of Government of India bonds who are using the demat account of Stock Holding Corporation of India Limited (SHCIL). Since 13th April, their ‘system’ has started accepting applications for nomination in the case of joint-holders of GoI Bonds.
Moneylife. More so since it is really a case of
Moneylife impact!
For several years, I have been putting a small part of my savings into GoI bonds subscribed through SHCIL. All the holdings are in joint names. While making the application, I was informed that for joint holdings, there is no provision for nomination. The usual pitch was that it was not necessary because the holdings were in joint names. And, while I did not accept the logic, I had not really gotten down to insisting on my right to nominate, for a relatively easier way of transmission of the holdings.
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