SEBI Partners with DigiLocker to Streamline Investor Access and Reduce Unclaimed Assets
| Key Aspect | Details |
|---|---|
| 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. |