SEBI relief for investors holding physical shares

The Securities and Exchange Board of India has given investors who possess physical share certificates a reprieve by extending the deadline for adhering to the know your customer (KYC) regulations from March 31 to September 30, as per a report by Financial Express.

Presenting PAN, nomination, contact information, bank account information, and a sample signature for their respective folio numbers to their registrar and transfer agents is now required of all holders of physical securities in listed companies.

If this is not done, folios will be blocked by RTAs after October 1. These shares will not be subject to company actions such as dividends, bonuses, or stock splits.

In the securities market, only 1% to 1.5% of shares are still held in their physical shape as share certificates. Industry estimates place the worth of this at over 3.5 trillion rupees.

As reported by Financial Express