Which platform has the Securities and Exchange Board of India partnered with to reduce unclaimed assets in the Indian securities market?

The correct answer is DigiLocker.

In News

• The Securities and Exchange Board of India (SEBI) has partnered with DigiLocker to minimize unclaimed assets in the Indian securities market.
• SEBI's new initiative enables investors to store and access demat holdings, mutual fund statements, and Consolidated Account Statements (CAS) through DigiLocker.

Key Points

• DigiLocker now supports storage of securities-related documents such as demat holdings and mutual fund statements.
• Investors can appoint Data Access Nominees for seamless transfer of financial data in case of their demise.
• SEBI-regulated KYC Registration Agencies (KRAs) will verify and notify nominees to ensure smooth asset transition.
• This initiative enhances investor protection by preventing financial assets from remaining unclaimed.

Additional Information

• DigiLocker
  • Developed by the Ministry of Electronics and Information Technology (MeitY), Government of India.
  • A digital storage platform allowing citizens to store and access government-issued documents securely.
• SEBI
  • Regulates the securities and capital markets in India.
  • Aims to protect investor interests and promote market transparency.
• KYC Registration Agencies (KRAs)
  • Registered with SEBI to manage investor KYC verification.
  • Ensures compliance with financial regulations for seamless transactions.