The recent consultation paper by Securities & Exchange Board of India (SEBI) points out that 70% of the demat accounts with a single holder have opted out of appointing a nominee.
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The Securities and Exchange Board of India (SEBI), “Submission of ‘choice of nomination f”or trading accounts has been made voluntary as a step towards ease of doing business; With respect to demat accounts, it has been decided to extend the last date for submission of ‘choice of nomination to December 31, 2023.”
Capital markets regulator Sebi extended the deadline till September-end for existing trading and demat account holders to provide choice of nomination or opt out of nomination.