If you invest in the stock market or mutual funds, a new rule will come into effect from April 1, 2025.
The Securities and Exchange Board of India (SEBI) has introduced a facility allowing investors to store their mutual fund and demat account details in DigiLocker for added convenience.
Benefits of Storing Mutual Funds in DigiLocker
Secure Digital Records
Investors can now digitally store information related to their demat and mutual fund accounts in DigiLocker.
5Since DigiLocker is a government-approved platform, these records will be valid and secure.
No Need for Paper Documents
With this facility, investors no longer need to keep physical copies of their investment documents, reducing the risk of losing or damaging them.
Fewer Unclaimed Investments
SEBI’s initiative aims to reduce the number of unclaimed investments by ensuring that all records are safely stored and accessible when needed.
Nominee Facility for Added Security
To safeguard investor interests, SEBI has also introduced a nomination feature in DigiLocker. Investors can now nominate a person to receive information about their investments.
After the investor’s passing, the nominee will be informed about the assets.
If the nominee has an existing demat or mutual fund account, they can initiate the asset transfer process seamlessly.
Easier and More Transparent Investment Management
Investors can check their portfolio status anytime and share information when required.
DigiLocker simplifies investment tracking, making fund management hassle-free.
SEBI encourages all investors to use DigiLocker and add a nominee to enhance the security and transparency of their investments.
If you invest in mutual funds or the stock market, update your DigiLocker account soon and take advantage of this new feature.
