Country’s largest depository NSDl will soon allow demat account holders to nominate up to three persons for their holdings in a single account.
National Securities Depository ltd (NSDl) is in advanced stage to offer the benefit.
“Very soon we are going to offer up to three nominations for any single demat accounts, as against only one nomination which was allowed so far,” NSDl executive VP Samar Banwat told the news agency.
He said the process of system integration is already on and the facility would be unveiled to demat account subscribers as early as this month or January.
With the new facility, a demat account holder could distribute his securities holdings either in prorata or offer certain stocks to any particular nominee out of permissible limit of three.