The Securities and Exchange Board of India(Sebi) on Tuesday extended the timeline for making nomination or opting out of nomination for mutual fund unit holders to September 30 instead of March 31.
Last year, the markets regulator had asked all the existing individual unite holders holding mutual fund units either solely or jointly to provide nomination by March 31, failing which the folios would be frozen for debits.
The regulator said based on representations received from the market participants it has decided to extend the timeline.
Sebi has asked asset management companies to encourage unit holders to fulfil the requirement for nomination by sending a communication on fortnightly basis by way of emails and SMSs to all such who have not yet filed the nomination.
