KYC validation obligations strengthened: KRAs must validate Aadhaar-based records and issue reusable KRA identifiers. SEBI mandates KRAs to securely store KYC data and independently validate records where Aadhaar was used as an OVD, authenticating Aadhaar via UIDAI, verifying mobile/email by OTP when not Aadhaar seeded, and checking PAN against the Income Tax database. KRAs must notify RIs of deficiencies, develop uniform validation systems and integrate with RIs, assign a unique KRA identifier on successful validation for client reuse, and retain proof of communication; non Aadhaar OVD records will be stored but not validated unless Aadhaar is provided.
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KYC validation obligations strengthened: KRAs must validate Aadhaar-based records and issue reusable KRA identifiers.
SEBI mandates KRAs to securely store KYC data and independently validate records where Aadhaar was used as an OVD, authenticating Aadhaar via UIDAI, verifying mobile/email by OTP when not Aadhaar seeded, and checking PAN against the Income Tax database. KRAs must notify RIs of deficiencies, develop uniform validation systems and integrate with RIs, assign a unique KRA identifier on successful validation for client reuse, and retain proof of communication; non Aadhaar OVD records will be stored but not validated unless Aadhaar is provided.
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