SEBI Rule: If you invest in the stock market or mutual funds, then a new rule is coming into effect for you from April 1, 2024. The Securities and Exchange Board of India (SEBI) has allowed storing mutual fund and demat account information in DigiLocker for the convenience of investors.
Mutual Fund in Digilocker: Benefits of adding mutual funds in Digilocker
Secure digital records: Now investors will be able to store information related to their demat and mutual fund accounts digitally in DigiLocker, which will be government valid.
Elimination of need for paper documents: Now investors will not need to keep physical papers, which will eliminate the possibility of documents getting lost or damaged.
Reduction in unclaimed investments: This move of SEBI will help in reducing the number of unclaimed investments.
Mutual Fund in Digilocker: Nominee will get information
To protect the interests of investors, SEBI has also added the nomination facility. Under this, investors can nominate a person in DigiLocker.
After their death, the nominee will be given information about their assets.
If the nominee already has a demat or mutual fund account, he can proceed with the asset transfer process.
Mutual Fund in Digilocker: Investment management will be easy and transparent
Investors will be able to view their portfolio status anytime and share it whenever required
DigiLocker makes it easier to monitor investments, allowing investors to manage their funds without any hassle
SEBI advises all investors to use DigiLocker and add a nominee to make investments more secure and transparent
If you invest in mutual funds or stock market, then update your DigiLocker account soon and take advantage of this new facility.
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