*****Demat Account Update: NSDL nomination: How to add, change nominee details online in demat account – The Economic Times

Clipped from: https://economictimes.indiatimes.com/wealth/invest/nsdl-nomination-how-to-add-change-nominee-details-online-in-demat-account/articleshow/91654377.cms


The SEBI’s July 23, 2021, circular states that investors opening new trading and or demat account(s) on or after October 01, 2021, shall have the choice of providing nomination or opting out nomination.

Demat account is needed to when you want to invest in shares and debentures. If you need a demat account approach an NSDL DP, who will assist you in completing the necessary paperwork.

You must fill out a form and provide your PAN card as well as evidence of address. You must also supply information about your bank account.

You can also open a demat account by going to https://nsdl.co.in/Open_NSDL_Demat_Account.php

Many NSDL DPs now allow their customers to open demat accounts online, making the procedure paperless and convenient.

According to SEBI circular dated July 23, 2021: “Investors opening new trading and or demat account(s) on or after October 01, 2021, shall have the choice of providing nomination or opting out nomination, as follows:

a.The format for the nomination form is given in Annexure -A to this circular
b.Opt out of nomination through ‘Declaration Form’, as provided in Annexure -B to this circular. These forms at Annexure -A or B, would also be applicable for any subsequent change / withdrawal of nomination.
“Further, all existing eligible trading and demat account holders shall provide choice of nomination as per the option given, on or before March 31, 2022,failing which the trading accounts shall be frozen for trading and demat account shall be frozen for debits”

According to the latest SEBI circular on February 23, 2022: “w.r.t. freezing of accounts shall come into force with effect from March 31, 2023 instead of March 31, 2022.”

How to add or update nominee details in NSDL
Step 1: Visit NSDL website and login using your credentials
Step 2: Once you login, under demographic change click on ‘ update personal details’
Step 3: Tick the radio button stating ‘Add/Update nominee details’
Step 4: Update nomination details in the next page and click Save tab and submit
Step 5: Enter OTP which will be set to registered mobile number
Step 6: Click on ‘ eSign and download’, note the service charges and click ‘Proceed’ tab
Step 7: Enter VID or Aadhaar number and click on ‘ Verify OTP’
YOU will receive a modification successful message along with an acknowledgement number
Step 8: Click on Download eSign
Step 9: Now, go back to update the personal details page and tick the radio button ‘eSign download (Nomination modification)
Step 10: Enter the acknowledgement number select request type and click ‘eSign download’ tab

The other way to do is visiting the direct link- https://eservices.nsdl.com/instademat-kyc-nomination/#/login
Enter DP id, Client ID, PAN and click Submit. Enter the nomination details and submit the same.

NSDL offers the following the following facilities

  • Dematerialisation i.e., converting physical certificates to electronic form;
  • Rematerialisation i.e., conversion of securities in demat form into physical certificates;
  • Facilitating repurchase / redemption of units of mutual funds;
  • Electronic settlement of trades in stock exchanges connected to NSDL;
  • Pledging/hypothecation of dematerialised securities against loan;
  • Electronic credit of securities allotted in public issues, rights issue;
  • Receipt of non-cash corporate benefits such as bonus, in electronic form;
  • Freezing of demat accounts, so that the debits from the account are not permitted;
  • Nomination facility for demat accounts;
  • Services related to change of address;
  • Effecting transmission of securities;
  • Instructions to your DP over Internet through SPEED-e facility. (Please check with your DP for availing the facility);
  • Account monitoring facility over Internet for clearing members through SPEED facility;
  • Other facilities viz. holding debt instruments in the same account, availing stock lending/borrowing facility, etc.

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