Capital market regulator Securities and Exchange Board of India (SEBI) has made it mandatory for all mutual fund investors to either fill a nomination for their investments.
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Mutual Fund Nomination: The deadline for mutual fund enrollment is March 31, 2023, just a few days away. Last year capital market regulator The Securities and Exchange Board of India (SEBI) has made it mandatory for all mutual fund investors to either fill a nomination for their investments. So check your fund for the updation of the nominated person. Because if you fail to comply with the mandate, your investments will be frozen.
The mutual fund enrollment deadline of March 31, 2023, serves as a helpful reminder to investors to check their holdings and ensure that their hard-earned money is safe. When this day draws near. So it is necessary to take action by nominating a trusted person or choose not to nominate anyone for each of your mutual fund folios. Inactivity can lead to freezing of accounts, which can interfere with your financial plans.
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It is necessary to add a nominee in your folio
Explain that your nominee will act as your representative and is required to ensure that your investments are passed on to your loved ones in the unfortunate event of your untimely demise. So it is important to choose a trustworthy person and take a decision. Don’t wait until it’s too late, act now to protect your family’s financial future and your own.
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Nomination Rules by SEBI
According to SEBI’s circular dated June 15, 2022, all investors will have the option to make nominations for the mutual fund units held by them or opt out of the nomination facility altogether. If the nomination is not made by 31st March, then their investment will be stopped and no transaction will take place. Nominee can be added to the mutual fund folio through both online and offline methods.
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