Sebi introduces fast-track process for securities transmission

SEBI has introduced a Quick Transmission Processing (QTP) framework to simplify securities transmission for immediate relatives. Claims up to about 10 lakh rupees in physical form and up to 30 lakh rupees in dematerialised form will be processed under a simplified procedure. The regulator has removed the mandatory probate requirement, replaced multiple affidavits with a single affidavit cum NOC, and accepted QR-code enabled death certificates.