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To be eligible to nominate, the individual should be a sole or primary account holder of the demat account. Joint holders can also nominate. However, nomination is not possible in non-individual demat accounts.
On June 15, 2022, Sebi made the nomination mandatory for the existing mutual fund folios, including the jointly held ones by August 1, 2022. The deadline was then extended to October 1, 2022, then to March 31, 2023, and then to September 30, 2023.
It is necessary to add nominee information to your demat account; the deadline for doing so is September 30, 2023. You can either add nominee or opt- out of nomination.
There are only two weeks left in September. In September, there are various financial deadlines. Here are 5 changes and deadlines to be aware of that fall on September 30, 2023.
The fund house will offer an exit window to the unit holders of 30 days from September 14 to October 13. During the exit option period, unitholders who do not consent to the change may either switch to any other scheme of the fund house or redeem their investments at applicable NAV without payment of exit load subject to provisions of applicable cut-off time as stated in the SID of the scheme.