What is the process for modification or cancellation of nomination?

Holders of units may change/ cancel nomination any time by communicating the change using the prescribed form. Where a folio has joint holders, all joint holders should sign the request for change/cancellation of nomination, even if the mode of holding is not “joint”.

The cancellation of nomination can be made only by those individuals who hold unit on their own behalf, singly or jointly.

On cancellation of nomination, the nomination shall stand rescinded and the Asset Management Company shall not be under any obligation to transfer the units in favour of the Nominee(s).

Every new nomination for a folio/account will overwrite the existing nomination.  Other Important Points to note: 1. For a folio with more than 1 holder, the request for nominee updation, cancellation and modification needs to be signed together with all other joint holders, even if the mode of holding is not “joint”. 2. The Nomination shall be maintained at the folio level and shall be applicable for all schemes in the folio. 3. For units held in demat mode, the unit-holder will be entitled to the nomination facility offered by the depository with whom the unit-holder has an account.