Tuesday, December 5th, 2023

Relief for Demat Account holders, SEBI extended the deadline for this work

Photo:PTI trading account

Market regulator SEBI has given big relief to demat account holders. The deadline of 30 September 2023 (Demat Account new deadline) for including the nominee in the account (Demat Account) has now been extended to 31 December 2023. That is, if you have not decided any successor to your demat account or want to change it, then you can do this till the last day of this year. Its

Then such demat accounts would get frozen.

According to the news, through a circular on March 27, 2023, SEBI has made it necessary for the demat account to either choose the option of ‘choice of nomination’ or opt out of nomination. Had done it. SEBI had earlier warned that demat accounts not taking the decision will be frozen from September 30, 2023.

SEBI had issued this circular

SEBI, through a circular dated March 16, 2023, had also issued instructions to physical security holders in listed companies to submit sample signatures for their PAN, nomination, contact details, bank account details and their respective folio numbers. According to Moneycontrol reports, SEBI said that offering ‘choice of nomination’ for trading accounts (Demat Account) has been made voluntary as a step towards ease of doing business.

SEBI (Securities and Exchange Board of India) has also directed stock exchanges, depositories, RTAs (registrars and transfer agents) and listed companies to take necessary steps to implement the provisions of the circular and monitor compliance. Demat account is necessary to buy or sell stocks from the stock market. Stocks cannot be sold or bought in any other form except demat. If you want to invest money in IPO then demat account is necessary.

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