The Securities and Exchange Board of India (“SEBI”) has invited comments on the draft circular for ‘Harnessing DigiLocker as a Digital Public Infrastructure for reducing Unclaimed Assets in the Indian Securities Market’. The comments or suggestions are invited till December 31, 2024.

Key highlights of the draft circular are mentioned below:

1. Depositories and Mutual Funds to provide demat and MF holding statement, respectively, in the DigiLocker.
2. KYC Registration Agencies (KRA’s) to provide information on demise of investor available with them to DigiLocker.
3. Provision for nominee of DigiLocker users for their DigiLocker account.
4. Upon demise of the DigiLocker user, their status to be updated using information either from data of registration of deaths of the Registrar General of India (RGI) or the KRA system.
5. The DigiLocker to issue automatic intimation to the DigiLocker nominee by SMS and e-mail, who can now access the digital information in the account of the deceased user / investor.

The comments/suggestions may be provided through the following modes:

1. Online Submission: Comments can be provided through the web-based public comments form available at the following link: [Click here to provide your comments]
2. Email Submission: In case of any issues with the online form, comments can be sent via mail, with the subject: ” Harnessing DigiLocker as a Digital Public Infrastructure for reducing unclaimed assets in the Indian Securities Market ” to ia_ho@sebi.gov.in.

Please click on the hyperlink below to have a detailed read of the consultation paper and the draft circular.

Source: Securities and Exchange Board of India

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