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India's capital markets regulator, the Securities and Exchange Board of India (Sebi), has partnered with cloud-based security platform DigiLocker to help reduce unclaimed assets and help investors securely manage their digital documents, according to a post by NSE on the social media platform X.
Sebi's move to collaborate with DigiLocker comes as the regulator aims to reduce unclaimed assets in the securities market and protect the nominee's interest in case of the death of the primary investor for the account.
“SEBI has partnered with DigiLocker to reduce unclaimed assets in the securities market and protect nominees’ interests,” according to the post on X.
To minimise unclaimed assets bought by investors in the capital markets, Sebi has taken many initiatives, such as mandating the submission of contact, to simplify the transmission process.
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