If you invest in the stock market and you buy and sell shares of companies, then it is very important to do one thing by 31st March. Failure to do so will freeze your account. After this, you will not be able to buy and sell stocks. In fact, the Securities and Exchange Board of India (SEBI) has made it mandatory for all Demat Accounts and Trading Account holders to have a nominee.
The last date for adding the name of the nominee is March 31, 2023. If the nominee's name is not there in your demat and trading account, add it well in time. If you do not add a nominee, your account (Demat Accounts) will be frozen. After this, you will not be able to buy and sell shares in the stock market. The last date for adding the first nominee was March 31, 2022.
To add a nominee, first login to your Demat Account. Now go to the 'My nominees' segment on the page. Here you can choose 'add nominee' or 'opt-out' option. Now file the details of the nominee and upload the ID proof of the nominee. Next, enter the nominee's share in 'Percentage'. Now e-sign the document. This process has to be completed through Aadhaar OTP. After this document verification will take place and the process will be completed within 24-48 hours.