SEBI.vide.its.circulars SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 and SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/8 dated November 03, 2021 and January 25, 2022 respectively, has introduced common and simplified norms for processing investor’s service request by RTAs and norms for furnishing PAN, KYC details and Nomination.
1.Common and simplified norms for processing investor service requests pertaining to furnishing of PAN, KYC and nomination details by Registrar and Transfer Agents (RTAs)
2. Electronic interface for processing investor’s queries, complaints, and service requests
3. Mandatory furnishing of PAN, KYC details and nomination by holders of physical securities
4. Freezing of folios – wherein any ONE of the cited details/documents (i.e PAN, Address with PIN code, Email address, Mobile Number, Bank Account Details, Specimen Signature and Nomination details) are not available on or after April 01, 2023, shall be frozen
The securities in the frozen folios shall be:
- Eligible to lodge any grievance or avail service request from the RTA;
- Eligible for any payment including dividend, interest or redemption payment only through electronic mode
only after furnishing the complete documents / details as aforesaid.
5. Compulsory linking of PAN and Aadhar by all holders of physical securities by 31st March 2022. Post 31st March 2022, folios in which PAN is / are not valid, shall also be frozen.
