SEBI allows mutual fund investors to name up to 10 nominees

The Securities and Exchange Board of India (SEBI) has announced new nomination rules for mutual funds and demat accounts to reduce unclaimed assets and ensure better management of investments, especially in situations like illness or the passing of an investor. Key changes in nomination rules Investors now must provide detailed information about their nominees, including any one of the identification details like PAN number, driving license number, or the last four digits of their Aadhaar number. Contact details and relationship with the investor also need to be specified. Interestingly, investors can nominate up to 10 individuals in a mutual fund account