The Witness You No Longer Need
The nomination form used to need a witness. That single line has kept more folios blank than any lack of intent ever did.
From September, it goes. Your own signature is enough. Two witnesses are needed only if you sign with a thumb impression instead.
What the form asks for shrinks as well. Name and relationship. That is all that stays mandatory. Percentage share, PAN, Aadhaar, the nominee's mobile number, all optional now. Leave the shares blank and up to three nominees simply split it equally between them.
I had a client keep that form in his laptop bag for four months last year. Not reluctance. Just the witness.
This applies to MF folios you already hold, not only new ones.
Nothing to do today. Pull up your last statement and see whether a nominee is showing. If nothing is, the form now takes four minutes.
General information only, based on publicly available reports as on the date of publication. Rules and effective dates may change. Nothing here is advice or a recommendation, and it does not consider any individual's circumstances. Please verify against the original regulation or speak to a qualified professional before acting.
Rahul Karandikar
After two decades in technology, Rahul now works with individuals and families who want to think about money with clarity, patience, and a long-term perspective.