Nomination for Demat Account
Securities Exchange Board of India (SEBI) has mandated submission of nomination details/declaration for opting out of nomination for investors opening new demat account(s) on or after October 01, 2021. SEBI also prescribed mandatory furnishing of the aforesaid information for all existing eligible demat account holders. SEBI has recently extended the last date for submission of nomination/Opt-out of nomination & added one more option for providing the nomination, Investors are requested to take note of the below.
Linking of PAN with Aadhaar
SEBI has issued a Press Release No. 27/2021 dated September 3, 2021 regarding Linking of PAN with Aadhaar. SEBI also prescribed that all the existing investors are advised to ensure linking of their PAN with Aadhaar number prior to Sept 30, 2021 or any other date specified by CBDT for continual and smooth transactions in securities market and to avoid any consequences of non-compliance of said notification on their transactions in securities market. Subsequently, the last date of linking of PAN with Aadhaar has been further extended to March 31, 2022 vide a press release dated Sept 17, 2021 by CBDT. In this context, Investors are advised to take measures to ensure that PAN available in demat accounts is linked with Aadhaar by March 31, 2022.
Mandatory updation of 6 KYC attributes of clients
All existing demat account holders shall update the 6-KYC attributes (Name, Address, PAN, Valid mobile number, Valid email-id and Income Range) by March 31, 2022. The demat accounts where the clients have not updated all the 6 KYC attributes, such demat accounts will be frozen for debits at EOD of March 31, 2022 and hence you are advised to update the above details by March 31, 2022.
Please ignore the communication, if you have already completed the above mentioned activities. For more information, you may please contact your Depository Participants.
