Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs)

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Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs)

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....ock Exchanges 3. Association of Mutual Funds in India (AMFI) 4. Association of Portfolio Managers (APMI) 5. BSE Administration & Supervision Ltd (BASL) Dear Sir/Madam, Subject: Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs) 1. SEBI vide circular SEBI/HO/MIRSD/DoP/P/CIR/2022/46 dated April 06, 2022 has spec....

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....he KYC process is completed. 5. Thereafter, as a part of risk management framework, the KRAs shall verify the following attributes of records of all clients within 2 days of receipt of KYC records: 5.1. PAN (including PAN Aadhaar linkage, as referred to in rule 114 AAA of the Income-tax Rules, 1962) 5.2. Name 5.3. Address 6. Additionally, the KRAs shall verify the client's mobile number and e....

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.... shall fetch the validated records from the KRA database. 11. The KRAs shall develop systems/mechanism, in co-ordination with each other, and shall follow uniform internal guidelines/standards detailing aspects of identification of attributes and procedures for verification/ validation, in consultation with SEBI. 12. Further, the systems of intermediaries and the KRAs shall be integrated to faci....

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Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs)