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

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....s and Exchange Board of India Act, 1992 2. Stock 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 S....

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....with intermediaries and transact in securities market as soon as the 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. Addres....

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.... when he approaches different intermediary in securities market and the intermediary 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....