Sunday, January 15, 2012

NEW KYC 'S NORMS BY SEBI

Under the new process, once the investor has undergone the Know Your Client (KYC) process, an
intermediary shall perform the initial KYC of its clients and upload the details on the system of the Kyc Registration Agency (KRA). If the investor intends to open account with another intermediary, the intermediary concerned can verify and download the client's details from the system of the KRA.
This will help the investor in avoiding going through KYC process every time he makes an investment through a single or multiple intermediaries. It shall be mandatory for all the intermediaries to carry out In-Person Verification (IPV) of their clients.

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