In January, SEBI had notified new norms to make KRAs responsible for independent verification of KYC records entered by registered intermediaries (RIs) on their ‘system’.
The Securities and Exchange Board of India (SEBI) on Wednesday issued new guidelines for KYC Registration Agencies (KRAs). Under this, such agencies will have to independently verify the KYC records of all customers from July 1.
These guidelines come at a time when SEBI in January notified new norms to make KRAs responsible for independent verification of KYC records entered by Registered Intermediaries (RIs) on their ‘system
As per this notification, such agencies will have to maintain audit verification of uploads/modifications/downloads in respect of KYC records of customers. SEBI said in a circular that KRA will independently verify the records of customers (existing and new) whose KYC has been completed using Aadhaar.
Records of customers who have completed KYC using non-Aadhaar Official Valid Document (OVD) will be verified only on receipt of Aadhaar number.
