Context:
Markets regulator Sebi plans to use govt’s DigiLocker system to reduce instances of unclaimed assets in the securities market. This includes MF folios and stocks left with fund houses and depositories after the death of an investor.
Highlights:
- As said by the market regulator, Sebi plans to utilize the government’s DigiLocker system to bring down unclaimed assets in the securities market.
- The system combined both MF folios and stocks left over with fund houses and depositories when the investor dies.
DigiLocker
It is a secure cloud-based platform that allows Indian citizens to store, share, and verify documents and certificates. It was developed by the Ministry of Electronics and Information Technology (MeitY) as part of the Digital India program.
