Is nomination mandatory in Demat Account?

It is not mandatory but advisable for all individual beneficial owners to nominate a person (kin) while opening the Demat Account. Resident Individuals, NRIs presently having or opening new accounts either singly or jointly can appoint a nominee. If the account is held jointly all the joint account holders are required to sign the nomination form.

The nomination can be changed or updated as and when required. However, on individuals including society, Karta of Hindu Undivided Family, Trust, corporate body or holder of power of attorney cannot nominate.