The deadline for all current individual unit holders who own mutual fund units, either alone or jointly, nominate or opt out of nomination is June 30, 2024; otherwise, the folios will be blocked for debits.
Atuls concerns on the need to change the nominations in line with the alteration in his family situation are valid. Nomination is a facility that will help Atuls dependants easily get the money he has invested, in the unfortunate event of his passing away.
If a mutual fund investor fails to complete nomination by this deadline, it will result in his/her MF folios getting frozen for debits. That is, redemptions or withdrawals from any of these investments won’t be possible.