Sebi has directed KYC Registration Agencies (KRAs) to integrate their systems with the Central KYC Records Registry by August 1, 2024. This move aims to streamline KYC data sharing and improve client verification processes in the Indian capital markets.
New Delhi, Jun 6 (PTI) Capital markets regulator Sebi on Thursday directed
the KYC Registration Agencies to integrate their systems with Central KYC Records Registry and begin the uploading of KYC data from August 1.
The KYC record of a client is uploaded on the system of KYC Registration Agencies (KRAs) by the intermediaries performing client due diligence. Additionally, the KYC information is uploaded on Central KYC Records Registry (CKYCRR) by the intermediaries.
In a circular, Sebi asked registered intermediaries to continue to upload or modify the KYC information with proper authentication on the systems of KRA.
Further, KRAs will upload the verified or validated KYC information onto the system of CKYCRR within seven days of receiving the same from intermediaries.
"The KRAs shall integrate their systems with CKYCRR and commence the uploading of KYC records on CKYCRR from August 1, 2024," Sebi said.
Further, KRAs will ensure that existing KYC records of legal entities and of individual clients are uploaded on to CKYCRR within a period of 6 months from August 1.
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