pc
nid 94648
Aug 19, 2026
pthandapani@vixio.com
India
Securities and Exchange Board of India
financial services
112% of draft length
draft in Generated
Generated
1650 charsIndia's Securities and Exchange Board of India Reviews Know Your Client Process for Non-Resident Individuals
On August 14, 2026, the Securities and Exchange Board of India (SEBI) launched a consultation on reviewing the know your client (KYC) process for individual persons resident outside India.
The consultation addresses the KYC procedures applicable to non-resident individuals seeking to participate in Indian securities markets. SEBI is reviewing existing KYC requirements to assess whether current processes remain appropriate for this investor segment, considering evolving regulatory standards, market practices, and operational efficiency. The review aims to ensure that KYC procedures balance investor protection with market accessibility for non-resident individuals while maintaining compliance with anti-money laundering and counter-terrorism financing obligations.
The consultation invites market participants, including brokers, depository participants, custodians, and other intermediaries, to submit comments on the proposed review of KYC processes for non-resident individuals. Stakeholders are encouraged to provide feedback on the effectiveness of current procedures, potential improvements, and any practical challenges in implementation. Comments can be submitted through SEBI's public comments portal. The specific deadline for responses has not been detailed in the available material, though responses should be directed to SEBI's consultation portal as indicated.
**Reference:**
Securities and Exchange Board of India. Consultation Paper on Review of Know Your Client Process for Individual Persons Resident Outside India. Available at: https://www.sebi.gov.in/sebiweb/publiccommentv2/PublicCommentAction.do?doPublicComments=yes
Agent draft
Not run yet.
Published
1842 charsIndia's Securities and Exchange Board of India Reviews Know Your Client Process for Non-Resident Individuals
On August 14, 2026, the Securities and Exchange Board of India (SEBI) launched a consultation on reviewing the know your client (KYC) process for individual persons resident outside India.
The consultation paper prescribes:
Relaxation of physical presence in India proposing to permit digital onboarding and Video In-Person Verification (VIPV) for individual Person Resident Outside India (PROI) clients located in Financial Action Task Force (FATF) compliant countries without requiring physical location in India.
Digital KYC submission and signatures allowing PROI clients to submit KYC forms and Officially Valid Documents (OVDs) digitally using electronic or digital signatures, or by providing a cropped specimen signature image verified during VIPV.
Current address self-declaration permitting PROI clients to self-declare their current overseas address if the submitted OVD can be verified through official or source databases.
Verification of email and mobile details mandating intermediaries to collect and verify email IDs via One Time Password (OTP) or verifiable mechanisms, while relaxing the mandatory verification of foreign mobile numbers if unfeasible.
Expanded attestation for document verification extending the list of authorized officials who can certify OVD copies to include authorized officials of overseas branches of banks having relationships with Indian banks.
Portability and reliance on third-party KYC relaxing the strict "validated" status requirement for KYC record portability for PROIs, enabling KYC Registration Agencies (KRAs) to share records with tagged attributes, and allowing reliance on KYC records retrieved from the Central KYC Records Registry (CKYCRR) or conducted by entities regulated by other financial sector regulators.
Feedback may be submitted via this link by September 4, 2026.