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How You Benefit from SEBI's New Norms for Death Reporting for MFs and Depositories

SEBI's new rule effective January 1, 2024, transforms the landscape of asset transmission upon an investor's demise. By compelling mutual funds and depositories to proactively notify nominees within seven days, it seeks to streamline the process, provide clear guidelines, and enhance transparency, significantly impacting both beneficiaries and financial intermediaries.