Recent rulings that can affect your investment

A look at recent rulings which can affect you

CAPITAL MARKETS
The Securities and Exchange Board of India (Sebi) has standardised the documentary procedure for transfer of securities from a deceased person's account to that of the surviving joint holder, nominee or legal heir to make the process investorfriendly. Also, the regulator has raised the threshold for such transactions in demat format to Rs 5 lakh. Earlier, the limit was Rs 1 lakh. The timeline for processing the transmission requests for securities held in dematerialised and physical mode would be 7 days and 21 days respectively, after receipt of the prescribed documents.

INSURANCE
The insurance regulator has informed insurers that the recently operationalised electronic know-your-customer, or E-KYC, services by the Unique Identification. Authority of India (UIDAI) will be accepted as valid and sufficient proof of identity and address for insurance. The Pension Fund Regulatory and Development Authority has also issued a similar circular which states that the letter issued by the UIDAI will be accepted as a valid KYC proof.

PENSION
The pension regulator has slightly modified the exit guidelines under the National Pension System (NPS). It will now provide an option to withdraw the entire accumulated pension wealth if the amount is not more than Rs 2 lakh at the time of superannuation for government employees, or upon attaining the age of 60 years for subscribers falling under the 'All citizen model and Corporate model'. This facility, would not be available to subscribers of the NPS Lite Scheme.

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**Rs 34 crore is the money investors have pulled out of mutual funds in the month of September.**

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