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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Harnessing DigiLocker as a Digital Public Infrastructure for reducing Unclaimed Assets in the Indian Securities Market

19-Mar-2025 | SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2025/3

SEBI has issued a notification regarding Harnessing DigiLocker as a Digital Public Infrastructure for reducing Unclaimed Assets in the Indian Securities Market, effective from 1st April 2025.

Key highlights-
1. In order to reduce Unclaimed Assets in the Indian Securities Market, integration with DigiLocker is done wherein, the users can provide the details of their nominees and the nominees can also access the user information on the demise of the user. A special mechanism for the intimation about the demise of user to the Nominee has been created by SEBI. Post intimation, the Nominees can access the digital information of the deceased digilocker user.
2. Asset Management Companies (AMCs) and their RTAs and recognised depositiories are required to register with DigiLocker as 'issuer' in order to enable their users / investors to fetch their - a) holding statement and b) transaction statements for last 30 days of the mutual fund units and demat account respectively.
3. The users can fetch their latest generated or last available Consolidated Account Statement (CAS) in the previous 12 months on request.
4. KRAs are directed to electronically share the details of all the instances of demise of investors available in their system with DigiLocker with adequate safeguards for data safety.
5. Functionalities, features, and benefits of DigiLocker are specified which are attached as Annexure - A to the circular.

Please refer to the attached document for more information

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