April 24, 2024 02:22 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Renowned dancer and ex-professor at Chennai academy arrested on sexual harassment charges | 'Has anyone robbed your mangalsutra during Congress rule?' Priyanka Gandhi counters PM's charge | 'Can explain manifesto to PM Modi': Mallikarjun Kharge on Muslim League remark | 'They want to break country': PM Modi's jibe over Goa Congress leader's constitution remarks | Under construction Telangana bridge collapses as high wind gushes through the area
MF nomination deadline soon; non compliance may lead to freezing of units
Photo Courtesy: Dan Dimmock via Usplash

MF nomination deadline soon; non compliance may lead to freezing of units

India Blooms New Service | @indiablooms | 16 Sep 2023, 12:42 am

Mumbai: All individual mutual fund unit holders are required to either nominate or opt out of nomination by September 30, 2023. Failure to do so will result in the freezing of their mutual fund folios for debits, reported ET.

The deadline for mutual fund investors to provide nominee details is September 30, 2023.

Through a circular on March 28, 2023, the Securities and Exchange Board of India (Sebi) said, "Based on representations received from the market participants, it has been decided that the provision mentioned at para 4 of SEBI circular dated June 15, 2022 with regard to freezing of folios, shall come into force with effect from September 30, 2023 instead of March 31, 2023."

Those who do not wish to submit nominations, they can submit an opt-out declaration to prevent their mutual fund units from being frozen.

Investors who want to opt in or out of nomination but have not yet provided their nomination information can do so by visiting the trading platforms of stock brokers or depository participants who offer this service.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.