Secure Your Shares and Mutual Fund Documents in DigiLocker: A Step-by-Step Guide

SEBI and DigiLocker have launched a new initiative that offers several benefits to investors. With DigiLocker, investors’ information will be more secure, and the nominee process will become simpler. This initiative makes managing investment documents easier and safer.

Starting April 1, investors can use DigiLocker to securely store their mutual fund and share details. This will keep their investment records safe, and nominees will also be able to access them when needed. This was launched by SEBI (Securities and Exchange Board of India) alongside DigiLocker. Before learning about its benefits, let’s first know what DigiLocker is.

What is Digilocker?

DigiLocker is a government-run digital platform that keeps your important documents and information safe. You can access them anytime, anywhere.

Now, the stock market regulator SEBI has also launched DigiLocker for investors. From April 1, investors will be able to use it to securely store their demat account details. Investors can access their details at any time, and even their nominees can obtain access when required.

Advantages of DigiLocker

DigiLocker is designed to keep your data safe. It allows investors to easily store demat and mutual fund documents in one place. Your information stays secure and protected while you use it.

When you choose a nominee for your investments, whether it is from the bank or the stock market, DigiLocker makes it easy. You can also add a nominee, and in case the investor dies, the nominee will be informed. The nominee will also be able to access all the investment information quite easily through DigiLocker.

If the nominee has a demat account, shares can be transferred from the investor to the nominee quite easily through DigiLocker.

Steps to link your demat account with DigiLocker:

Step 1: Initially, download the DigiLocker app and enter your Aadhaar number.

Step 2: Next, visit the services and document repositories sections within the app.

Step 3: Upload your crucial documents, such as your Aadhaar card, PAN card, and bank account information, to DigiLocker.

Step 4: Then, open your brokerage app or website.

Step 5: Find the option to connect your DigiLocker account for KYC (Know Your Customer) and click on it.

Step 6: Now, return to DigiLocker and provide access to the brokerage app for your documents.

Step 7: After uploading the document, the brokerage will authenticate it, and you will receive an SMS stating that the process is complete.