SEBI & DigiLocker Partnership for Investor Convenience

• The Securities and Exchange Board of India (SEBI) has collaborated with DigiLocker to provide investors with seamless access to their securities holdings and reduce unclaimed assets in the Indian financial market.

About the Initiative

• DigiLocker Integration for Financial Assets
• Investors can now store and retrieve demat holdings, mutual fund statements, and Consolidated Account Statements (CAS) through DigiLocker.
• Expands DigiLocker’s role, which already includes bank statements, insurance policies, and NPS statements.

New Nomination Facility for Legal Heirs

• Investors can appoint Data Access Nominees within DigiLocker.
• Upon the investor’s demise, nominees receive read-only access to financial documents, ensuring smooth asset transition.

Automated Notification System

• SEBI-regulated KYC Registration Agencies (KRAs) will notify nominees upon the investor’s death.
• DigiLocker will automatically grant nominee access, enabling asset transfer procedures.

Role of KYC Registration Agencies (KRAs)

• KRAs act as verifiers and facilitators for nominee access.
• Ensure efficient and hassle-free transition of assets to rightful heirs