As per SEBI guidelines, for all new Demat accounts & also for all existing Demat accounts, (NSDL & CDSL) account holder will have to mandatorily provide either for nomination or to opt out nomination.

The nomination can be made only by individuals holding beneficiary owner accounts on their own behalf singly or jointly. Non-individuals including society, trust, body corporate, partnership firm, and Hindu Undivided Family, holder of power of attorney cannot nominate. If the account is held jointly, all joint holders will sign the nomination form.

Online updation link for nomination (NSDL only)

NSDL has launched the online opt-in / opt-out facility for nomination wherein the existing Demat account holder (applicable for single account holder only) will have the ability to opt-in / opt-out of nomination in an online mode on NSDL web portal viz., https://eservices.nsdl.com/instademat-kyc-nomination/#/login.

However for Demat account with joint holding, nomination form (format enclosed Click here), physical form would be required (mandatory) to be submitted to the Bank.

In case of opting for nomination ( Format Enclosed Click here) and in case of no nomination for opting out of nomination (format enclosed Click here), physical form would be required (mandatory) to be submitted to the Bank.

For CDSL

For opting in ( Format Enclosed Click Here)  /opting out facility for Nomination client is required to submit physical request (as per format enclosed Click here) to any of his/her nearest branch of Saraswat Co-operative Bank Ltd.