Deepika Patidar’s Post

New Rules on Nominations for Demat and Mutual Funds SEBI in its latest board meeting came up with new nomination rules. Here’s a breakdown of the new nomination rules and what they mean for investors and their legal heirs: >>More Nominees, More Complexity You can now have up to 10 nominees for your Demat and mutual fund holdings (up from 3). While this provides flexibility, it could lead to operational deadlocks. Why? Each nominee’s share must be specified, and their signatures will be required for future transfers or monetization. Imagine trying to get 10 people to sign off! >>Nominees for Incapacitated Individuals Nominees can act on behalf of incapacitated persons. But there’s a risk—changes (like adding or removing nominees) can be manipulated online, increasing the chances of fraud. >>Rule of Survivorship: Co-ownership After Death Joint holders can now become co-owners after one passes away. Previously, this was allowed only if specified. The catch? Legal heirs may have to go through the courts to claim their inheritance. >>Nomination for Joint Holders is Optional Nomination used to be mandatory but not strictly enforced. Now, joint holders can skip it. However, this poses a challenge if all joint holders pass away—unclaimed funds might remain trapped. These updates are crucial for anyone managing investments. Whether you’re an investor or an heir, understanding these changes can save you headaches down the line. Key takeaway: More nominees = more flexibility, but also more complexity and legal hurdles. Make sure you have everything in order to avoid future disputes. If you found this helpful, feel free to share this with your network! 🔁 #SEBI #Investments #MutualFunds #WealthManagement #FinanceUpdates #LegalHurdles #Nomination

SEBI introduces New Rules on Nomination for Demat and Mutual Funds: All You Need to Know #SEBI #mututalfunds #taxscan #taxnews Read More: https://lnkd.in/ekP6jAPd

🚨 Important Update Your mutual fund redemptions, SWP, switch, STP will stop if you don’t do this by July 1 🚨 If you're a mutual fund unit holder, there's an essential deadline you need to know about. The Securities and Exchange Board of India (SEBI) mandates that all single-holder mutual fund accounts must opt in or opt out of nomination by June 30, 2024. Failure to do so will result in your folio being blocked for debits, meaning transactions like Redemptions, SWP, Switch, and STP will not be permitted from July 1, 2024. 🔍 Key Details: Deadline: June 30, 2024 Requirement: Opt in or opt out of nomination Impact: Folios blocked for debits if not completed 💡 Who is Affected? Single Holder Accounts: Mandatory opt-in or opt-out of nomination Jointly Held Accounts: Optional, per SEBI's circular dated April 30, 2024 🔗 How to Add Nominee to Demat Account: Click on the URL: https://lnkd.in/dxAEdkCY Subscribe and enter DP ID + Client ID + PAN and OTP Choose to opt-in or opt-out of nomination Enter nominee details and confirm with OTP authentication Complete Aadhaar eSign and final OTP submission 📝 For CAMS Users: Use the online feature for OTP-based authentication to declare nominee(s) or opt-out This feature is not applicable for mutual fund holdings in Demat mode 📢 Ensure your nominations are updated to avoid any disruptions to your mutual fund transactions. Act now and secure your investments! 🔗 Disclaimer: This post is for informational purposes only. Please consult with your financial advisor or Contact US for Personalized Guidance. https://wa.me/919552528331 💬 Share your thoughts and questions in the comments below! 👇 #MutualFunds #Investment #SEBI #Nomination #FinancialPlanning #InvestorAlert #SecureInvestments 💼💡🔐

#MarketsWithMC | Mutual fund is Sebi’s ‘Bada Beta’ and plays an important role in financial inclusion, says Madhabi Puri Buch 💰📈 writes Anishaa Kumar Find out more on this👇 https://lnkd.in/dnN3WNJE #MutualFunds #SEBI #FinancialInclusions  

How to add nomination to your mutual funds & demant accounts ? Follow steps given below or check out below link. https://lnkd.in/d2ER62Cq SEBI has informed that if you fail to add nominee to your mutual fund/demat accounts by 30 June'24, the accounts will be freezed and you would not be able to sell/redeem the units &/or shares. 1. How to add nominee to demat accounts with NSDL ? - Go to NSDL website & click on nominate online option - Enter basis details like DP id, client id, PAN - Enter OTP received on your registered mobile number & then update nominee details 2. How to add nominee to demat accounts with CDSL ? - Login to CDSL nomination page (you will directly get the link to the page on google) - Enter BO id, PAN & DOB - Enter OTP received on your registered mobile number & then update nominee details 3. How to add nominee to your mutual funds ? - Go to any mutual fund website & update the nomination details for your folio - Or else login to camsonline website using your PAN and update the nominee details for all the mutual fund folios held by you. As of date, ~ Rs. 50,000-80,000 crores is lying unclaimed in demat accounts, mutual funds, life insurance policies due to lack of nomination. Hence, please ensure to add a nomincation before 30 June'2024 to avoid freezing of your account. #Finance#SEBI#Nomination#Mutual fund#Shares#Demat accounts

Mutual Fund: SEBI removed the rule of linking PAN-Aadhaar, these people will get benefit #ChangesinEBIrules #howtoinvestinmutualfunds #KYCnorms #mutualfundkycupdate #mutualfundrules #Mutualfunds #PANAadhaarlink #Sebi

The SEC wishes to remind all customers of Fund Management Companies (FMCs) affected by the revocation of licenses exercised in November 2019 that the deadline for submission of claims for validation is Tuesday, 9th July 2024. To be eligible for the voluntary bailout package offered by the Government, affected customers must have validated claims and must have accepted the government's sponsored bailout package. The SEC urges all eligible customers to submit their claims before the deadline to ensure that they receive the financial support they are entitled to. For further information and assistance with the claims submission process, please contact the sole SEC-appointed agent, PricewaterhouseCoopers (Ghana) LTD (“PwC”), via email at gh_fundmanagers@pwc.com or by phone at +233 (0) 242 439 453. The SEC remains committed to protecting the interests of investors and ensuring the stability and integrity of the Ghanaian capital market. This Notice is issued pursuant to sections 3(i)(m) and 208(c) of the Securities Industry Act, 2016 (Act 929) as amended. Read more here: https://lnkd.in/eazB4vv6

Mutual fund investors can now cancel their SIPs more quickly, as SEBI has shortened the processing time to two working days from the previous 10 working days. #mutualfund #sebi #SIP https://mybs.in/2dbFBEB

KYC for Mutual Fund Investors Check Your KYC Status: (1) Visit mutual fund website or RTA where the investment is held (2) Locate the ‘KYC Status’ link (3) Enter the 10-digit PAN (4) View the status - Validated/Registered/On-Hold/Rejected #parthawealth #investment #insurance #mutualfund #knowyourcustomer #KYC

On June 10, SEBI issued a circular clarifying nomination rules for demat and mutual fund accounts. Here's the gist: Existing Accounts: Good news! Your demat and mutual fund accounts won’t be frozen even if you haven’t submitted a nomination. Keep enjoying those dividends and interest payouts. Nomination Benefits: While not mandatory for current accounts, having a nominee ensures your investments go to your chosen person if something happens to you. New Accounts: Starting from June 30, 2024, all new demat and mutual fund accounts must have a nominee. This makes inheritance smoother. Joint Accounts: If you have a joint demat account or mutual fund, no need for a nomination. So, stay invested and worry-free!