by CIEL
* Investors can
modify the nominations in their bank and demat accounts, as well as the
Provident Fund (PF)and mutual fund (MF)
accounts whenever they want to.
* The prescribed
formats have to be used to change the list of nominees and their share in the
proceeds.
* All account
holders, irrespective of the mode of operation, have to sign the request for
change in nomination.
* The karta of a
Hindu Undivided Family (HUF) or power of attorney holders cannot modify the
nominations to an account or nominate themselves.
* If a minor child is
named as a nominee, the date of birth & guardian details have to be
provided.
Courtesy: Centre for Investment Education and Learning
(CIEL).
Contributions by
Girija Gadre, Arti Bhargava and Labdhi Mehta.
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