he Indian securities market is taking a giant leap forward in ensuring financial assets remain secure and accessible to rightful heirs. Starting April 1, 2025, the Securities and Exchange Board of India (SEBI) is introducing a revolutionary initiative—leveraging Digi Locker as a Digital Public Infrastructure to reduce Unclaimed Assets (UA) in the financial system. This initiative ensures seamless access to financial records, preventing investments from becoming unclaimed due to unforeseen circumstances.
What is Digi Locker?
Digi Locker, an initiative by the Government of India (GOI), is a secure digital document wallet designed to store and access essential documents like Aadhaar, PAN, driving licenses, death certificates, bank statements, insurance policies, mutual fund holdings, and more. With this integration, investors can consolidate their financial holdings in one place, making it easier for heirs to claim assets.
How Digi Locker Helps Reduce Unclaimed Assets
By integrating Digi Locker with KRAs (KYC Registration Agencies), AMCs (Asset Management Companies), and Depositories, this initiative will ensure investors’ financial records remain accessible to rightful nominees. Here’s how it works:
1. Seamless Access to Financial Documents
Investors can fetch bank statements, mutual fund (MF) holdings, NPS statements, and demat holdings directly into their Digi Locker account.
Automatic retrieval of Consolidated Account Statements (CAS) every January 1st for a hassle-free record-keeping experience.
2. Nomination Mechanism for a Secure Future
Investors can add nominees (email & mobile details required) to ensure smooth access to their assets.
Upon an investor’s demise, Digi Locker verifies it through the Register of Deaths or a death certificate from KRAs.
Nominees receive an email/SMS alert notifying them about their access rights.
After a proper authentication process, nominees can access the deceased investor’s financial records.
3. Preventing Unclaimed Assets
If a Digi Locker nominee differs from the MF/demat nominee, they are responsible for ensuring rightful heirs claim the assets.
AMCs and Depositories must register as issuers to allow investors to fetch their holding and transaction statements.
Investors holding physical securities are encouraged to dematerialize them for seamless digital tracking and inheritance.
Why Investors Must Take Action Now
🚀 Go Digital, Stay Secure – This initiative is a game-changer in financial transparency and security. Investors are urged to:
✅ Register for Digi Locker and link financial assets✅ Add nominees to prevent future complications✅ Verify holdings and ensure timely access to financial records✅ Encourage dematerialization of physical assets
Mandatory Compliance for Financial Institutions
📢 SEBI has directed AMCs, Depositories, and KRAs to implement this system and report compliance. The goal is to create a more secure, transparent, and efficient financial ecosystem.
Final Thoughts
With Digi Locker becoming a centralized hub for financial records, investors no longer have to worry about their assets becoming unclaimed. This initiative ensures peace of mind, seamless inheritance, and better financial planning for future generations.
🔹 Secure Your Financial Legacy Today! Register for Digi Locker, add your financial documents, and nominate your heirs to avoid any future disputes or lost investments.
