The Securities and Exchange Board of India (SEBI) issued a circular to integrate DigiLocker into the Indian securities market as a mechanism to reduce unclaimed financial assets by enabling investors to store and access information on their demat and mutual fund holdings in a single digital location. Under the initiative, DigiLocker users can fetch and store statements of holdings for shares and mutual fund units from their demat accounts, including their Consolidated Account Statement (CAS). Investors can also appoint “Data Access Nominees” in DigiLocker who will receive read-only access to the account upon the user’s demise. Notifications and access are triggered when KYC Registration Agencies (KRAs) registered with and regulated by SEBI notify DigiLocker of the user’s demise, after which DigiLocker automatically alerts the Data Access Nominees to support initiation of the transmission process with the relevant financial institutions.
Securities & Exchange Board of India 2025-03-19
Securities and Exchange Board of India partners with DigiLocker to let investors store securities holdings data and nominate read-only access to help reduce unclaimed assets
The Securities and Exchange Board of India (SEBI) has issued a circular to integrate DigiLocker into the Indian securities market to reduce unclaimed financial assets. This initiative allows investors to store and access demat and mutual fund holdings digitally and appoint "Data Access Nominees" for posthumous account access. Notifications are triggered by KYC Registration Agencies to facilitate the transmission process.