How to link your demat and mutual fund accounts to DigiLocker? Here are the simple steps.

As a cloud-based digital wallet, DigiLocker securely stores digital versions of financial and other documents. Investors can now also link their demat and mutual fund accounts to it.

DigiLocker is a cloud-based digital wallet developed and operated by the Ministry of Electronics and Information Technology (MeitY). It provides you with digital versions of your important documents, such as:

  • Driving License
  • Vehicle Registration Certificate (RC)
  • Bank Account Statements
  • Insurance Policy
  • Educational Marksheets, etc.

Documents stored in DigiLocker are legally equivalent to original documents.

Learn the simple steps to link your accounts to DigiLocker.

  • Go to the DigiLocker website or app. Sign up with your mobile number or Aadhaar and complete the OTP verification.
  • Go to the ‘Profile’ section and link your PAN number to access your financial documents.
  • Click on “Search Documents” on the homepage. Search for “NSDL,” “CDSL,” or “CAMS/KFinTech” (for mutual funds). Then select an option like “Demat Holdings Statement” or “Mutual Fund Statement (CAS).”
  • Select the issuing institution and enter the required details, such as PAN, date of birth, or client ID. Once the verification is complete, your documents will automatically be saved to DigiLocker.
  • Go to Nominee or Sharing Settings. Add the email address or mobile number of a trusted person. In the event of your death, that person will be able to access your financial documents.

What should the nominee do?

  • DigiLocker is linked to the Registrar General of India’s Civil Registration System (CRS), which issues birth and death certificates.
  • If the death certificate contains an Aadhaar number, the system automatically updates the individual’s status as “deceased.”
  • If the Aadhaar number is not linked, DigiLocker will not be able to update it. In this case, information received from KYC Registration Agencies (KRAs) can be used as an alternative.
  • If a family member, nominee, joint account holder, or legal heir provides a verified death certificate to a SEBI-registered entity, the death information is recorded in the KRA system.

All relevant financial institutions are then notified. They freeze the deceased’s accounts and advise the notifier on the property claim or transfer process.

In such a case, the nominee can log in to DigiLocker and view the investor’s documents in “read-only” mode, i.e., they can view the documents but cannot make any changes to them.

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