Nomination

8. Nomination

Definition: Nomination is a facility that enables an individual investor to nominate a person who can claim the securities held by them in their demat accounts.
Details: This facility is useful in the event of the death of the investor, allowing the nominated person to claim the securities or redemption proceeds of mutual fund units.

Key Considerations: Before investing in the securities market, it's essential to understand the nomination process and its benefits.
Investment Process: Investors should be aware of the procedures for investing in the securities market, including opening a demat account and understanding the role of nomination in securing their investments.