Unified death reporting is the need of the hour

A loved one has passed away. You are the nominee in all the mutual funds and shares owned by the deceased. You dread the multiple trips and the time to be spent and efforts required to follow different rules at each of the 7 MFs in which the loved one had investments & the 2 Depository participants where the shares were held. Now Imagine this. You submit the death certificate and the PAN of the deceased at one of the MFs. Within a week all the 7 MFs and both the DPs reach out to you proactively on their own with the details of the standard forms and steps required to get the assets transmitted to your name. If that sounds like Fantasy – it will be true starting on January 1, 2024 – many thanks to a path breaking circular issued by SEBI. No comparable mechanism exists anywhere else in the world Thanks to the white paper – written by Pramod Rao (in his personal capacity) – foreword by Mr K V Kamath – inputs & published by ARIA. Read Harsh’s article in Business Standard for more..