Sebi Eases Re-KYC Process for NRIs with New Digital Rules

Sebi has simplified the re-KYC process for NRIs, removing the need for physical presence in India during digital verification. The changes aim to make re-KYC more accessible for NRIs by allowing the process to be completed from abroad, provided specific digital monitoring tools are used.

Securities and Exchange Board of India (Sebi) has announced significant changes to the re-Know Your Customer (re-KYC) process for Non-Resident Indians (NRIs), removing the obstacle of mandatory physical presence in India for digital verification.

Aimed at making the re-KYC smoother and more reachable for NRIs, the regulatory adjustment follows consultations with various stakeholders.

While initial onboarding requires an India-based location, existing NRI clients can now complete their re-KYC from overseas, with the aid of a digital KYC application equipped with advanced security features to ensure authenticity and prevent fraudulent practices.

(With inputs from agencies.)