Your mutual fund account will be frozen

New rules: If you also invest in mutual funds and you also have a demat account, then this news is very important for you. You will have to complete an important work this month i.e. by 30th September 2023, otherwise you may suffer huge loss. Let us know what is the new rule.
This is the new rule
According to the new rules, those who do not make nomination by September 30, their mutual fund folios may be frozen. That means your folio will be frozen from October 1 itself. According to the records of Registrar and Transfer Agent (RTA) CAMS, around 25 lakh PAN holders have not yet updated their enrollment information. Along with this, nomination in demat account is also necessary for you. If you do not do this then you will be able to buy or sell shares in the stock market.
How to fill nominee details? (How to Update Nominee) – You can fill the nomination details both online and offline. You can submit the nomination form in offline mode in DP branch. For online method you have to visit your intermediary’s web portal or NSDL web portal.
For this, first go to NSDL portal- https://nsdl.co.in/
Now click on ‘Nominate Online’ option given on the home page.
Enter your DP ID, Client ID, PAN, submit OTP.
Select the option ‘I want to enrol’ or ‘I do not want to enrol’.
If you select ‘I want to nominate’, a new page will open. Enter nominee details.
On the e-Sign Service Provider page, enable the checkbox and click on ‘Proceed’.
Finally verify the OTP.
After submitting the OTP you will get a confirmation. Please note that you can appoint a maximum of 3 nominees.