SEBI Revamps Nomination Rules for Demat, MF Accounts - Eased Transmission Process.

The Securities and Exchange Board of India (SEBI) has updated nomination rules for demat accounts and mutual fund folios to streamline asset transmission. Key changes include mandatory nomination for single holdings and optional for joint holdings, allowing up to 10 nominees with personal identifiers like PAN, DL, or Aadhaar. Nominees can manage accounts of incapacitated investors, and asset transmission requires a death certificate and nominee's KYC. The process is standardized to prevent unclaimed assets, effective March 1, 2025. .....

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