Securities transmission framework introduces QTP, streamlined succession documents, standardised forms and time-bound processing for uncontested death claims.

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Full Text of the Document

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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.....