SEBI Partners with DigiLocker to Streamline Investor Access and Reduce Unclaimed Assets
Key Aspect | Details |
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Partnership | SEBI and DigiLocker collaborate to streamline access to securities holdings. |
Objective | Reduce unclaimed assets and enhance financial transparency. |
Services Offered | Storage and retrieval of demat holdings, mutual fund statements, and CAS. |
Nomination Facility | Investors can appoint legal heirs via DigiLocker. |
Role of KRAs | KRAs notify and grant read-only access to nominees upon user's demise. |
Automated Notification System | DigiLocker automatically grants nominee access for asset transfer. |
Investor Benefits | Minimizes unclaimed assets, enhances protection, and reduces legal hassles. |
SEBI's Role | Strengthens digital financial infrastructure and promotes digital management. |