New Delhi, July 20 -- The process of claiming a deceased loved one's mutual fund investments can be quite cumbersome for families, with even minor inconsistencies in investor records leading to additional paperwork and delays.

To make it easier for nominees and legal heirs, the Securities and Exchange Board of India (SEBI) has asked the Association of Mutual Funds in India (AMFI) to simplify the industry's transmission norms.

"SEBI, as an ongoing investor-friendly initiative, has advised AMFI to further simplify the standards on 'Procedure to Claim Units / Proceeds upon death of a unit holder' to address operational challenges faced by kin of deceased investors during the transmission process for mutual funds," the market regulator said...