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The revised securities-transmission framework introduces Quick...
Securities transmission framework introduces QTP, streamlined succession documents, standardised forms and time-bound processing for uncontested death claims.
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The revised securities-transmission framework introduces Quick Transmission Processing (QTP) for low-value claims by immediate relatives and revised simplified-documentation thresholds for physical and dematerialised holdings. It applies to listed securities and AMC-issued units following the death of a sole holder or all joint holders, but excludes disputed or competing claims, which require legal or judicial resolution. Nominees receive assets as trustees for legal heirs, while non-nominee claims require documents based on the applicable category. The framework removes mandatory probate, adopts a combined affidavit-cum-NOC, accepts QR-coded death certificates, standardises claim forms and requires processing within 21 calendar days after complete documentation. It takes effect 30 days after issuance, with monthly reporting for six months.
The revised securities-transmission framework introduces Quick Transmission Processing (QTP) for low-value claims by immediate relatives and revised simplified-documentation thresholds for physical and dematerialised holdings. It applies to listed securities and AMC-issued units following the death of a sole holder or all joint holders, but excludes disputed or competing claims, which require legal or judicial resolution. Nominees receive assets as trustees for legal heirs, while non-nominee claims require documents based on the applicable category. The framework removes mandatory probate, adopts a combined affidavit-cum-NOC, accepts QR-coded death certificates, standardises claim forms and requires processing within 21 calendar days after complete documentation. It takes effect 30 days after issuance, with monthly reporting for six months.
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