SEBI Share New Rule: In the digital era, earning money is also becoming digital. Earlier, interest was earned by depositing money in FD or bank, but now earning is being done in shares.
Ever since India started going digital, all its processes have become online. Even though the stock exchange is in Mumbai, people from Kashmir to Kanyakumari can buy and sell shares. And all this has happened through online transfer.
The number of shareholders has increased
The number of shareholders has increased rapidly in recent times. According to a report, 40 percent growth has been seen in the number of shareholders in the last 5 years. Now a question comes in everyone’s mind that if a shareholder dies, then what will happen to his shares? What is the procedure if his family will be transferred? So let us tell you the whole thing about this today?
This is the current rule
If we talk about the present times, if a shareholder died suddenly, the family members had to do a lot of paper work. It took a lot of time. While on one hand the family lost their lives, on the other hand they had to stand in queues to withdraw their money.
But now the Stock Exchange Board of India i.e. SEBI has made many improvements in the rules. What are the new rules of SEBI? And how do they work? What is the whole process? Let us give you step by step information about this.
Work is going on on the portal (Share New Rule)
Actually, when we open our demat account, we give the details of a nominee there. Now whenever any such unexpected incident happens, there is no need for that nominee to go here and there. This information will have to be given to SEBI on the online portal itself.
Where they will have to submit some important documents including death certificate. As soon as the deposit is made, SEBI will start verifying it and if this fact is found to be correct then it will first close that account and start the process of share transfer or money transfer.
The new rule will bring ease to the family.
Although this rule is still under process, it is expected that this facility will be implemented before January 1, 2024. Believe me, the complexity that exists at present will go away after the coming of this rule. Family members will be able to easily transfer the shares to their name or withdraw the money.
