SEBI's New Circular Enhances KYC Efficiency with Aadhaar-Based e-KYC, Expands Entity Access, Emphasizes Data Privacy.

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....The circular reflects SEBI's ongoing efforts to streamline KYC processes in the securities market by leveraging Aadhaar-based e-KYC authentication services. By allowing certain entities to utilize these services, SEBI aims to enhance efficiency, reduce paperwork, and ensure compliance with anti-money laundering regulations. - The inclusion of additional entities underscores the growing acceptance and utilization of Aadhaar authentication services in financial transactions. - However, adherence to data privacy and security standards remains critical to maintaining trust and confidence in the financial system.....