paragraph

(PTI) Capital markets regulator Sebi on Wednesday said investors, who are subscribing to mutual fund units from August 1, will have the choice of providing nomination or opting out of nomination.

Also, the regulator has issued a format for nomination form and opting out of nomination through a 'declaration form' in this regard, according to a circular.

Further, Asset Management Companies (AMCs) have been asked to set the deadline as March 31, 2023 for nomination or opting out of nomination for all the existing individual unit holder(s) holding mutual fund units either solely or jointly, failing which the folios will be frozen for debits.

Under the new framework, AMC will have to provide an option to the unit holder(s) to submit either the nomination form or the declaration form for opting out of nomination in physical or online as per the choice of the unit holder(s).

In case of physical option, the forms will carry the wet signature of all the unit holder(s) and in case of online option, the forms will be using e-sign facility instead of wet signature(s) of all the unit holder(s).

AMCs have been asked to ensure that adequate systems are in place for providing the e-sign facility and they need to take all necessary steps to maintain confidentiality and safety of client records.

The move is aimed at bringing uniformity in practices across all constituents in securities market.

Last year, Sebi gave a similar choice for investors who were opening new trading and demat account.

Investors subscribing to mutual funds to get a choice of opting out of nomination

Starting August 1, mutual fund subscribers will have the choice of providing nomination or opting out of it

Corporate FD rates rise, offering depositors up to 3% higher than banks

Started investing in your 40? Be aware of these 5 points for your financial planning

SBI hikes minimum interest rate on home loans to 7.55%

Looking for an education loan? Here are the best interest rates on education loans

With returns exceeding 14%, Kotak Gold Fund shines the most in an investor’s portfolio

This is what world's greatest investors believe about investments

These focussed fund schemes gave 18 to 20 percent returns in past 3 years

What are the different ways to evaluate mutual fund's performance? 

BNPL at a nascent stage in India with a long way to go, says study

Cryptocurrency prices today: Bitcoin, Ethereum rise marginally; most others trad

Bitcoin, was trading at $19,130, up nearly 0.43 percent, steering away from its past seven days routine. Ether, the second largest token, rose by 2.15 percent to 1,045 at 17:00 IST.

Your Questions Answered: Should you choose debentures over debt mutual funds, or vice versa?

Here we aim to address some of your most pressing personal finance queries. Read further to make the optimal use of your money!

ITC shares hit 52-week high; up 30% this year; analysts see more upside

<ul><li>The stock has been witnessing remarkable traction this year while the market has been under pressure. The stock of ITC has gained about 30 percent this year so far (YTD) against a 9 percent fall in the benchmark Sensex.</li></ul>

Reliance cracks 7% as govt imposes surprise duty on crude exports

stock markets

Higher crude oil prices have boosted the refining margins of oil refiners and RIL is one of the key beneficiaries of it.

<ul><li>Higher crude oil prices have boosted the refining margins of oil refiners and RIL is one of the key beneficiaries of it.</li></ul>

Titan sheds 6% in intra-day deals as govt hikes gold import duty to strengthen falling rupee

Titan fell as much as 5.9 percent to its day's low of ₹1,827 in intraday deals on BSE. However, the stock ended flat, up 0.2 percent at ₹1,926 as against a 0.2 percent decline in BSE Sensex.