New Delhi, June 20 -- The Securities and Exchange Board of India (SEBI) has introduced a new framework to simplify the transmission of securities to legal heirs or claimants of deceased investors. The move aims to make the process faster and less cumbersome by reducing documentation requirements.

Transmission refers to the transfer of securities from the account of a deceased holder to a joint holder, nominee, or legal heir.

At the market regulator's board meeting on June 19, it unveiled a new category called Quick Transmission Processing (QTP) for small-value claims and doubled thresholds for transmission, helping beneficiaries gain access to inherited securities with an ease.

"A new category of Quick Transmission Processing (QTP) for...