The Investors are requested to note the table below with regard to changes in the KYC validation
and verification process at KRAs w.e.f. June 01, 2024, as per directions from SEBI.
| Sr no. | Attributes for Validation / Verification by KRAs | Result of validation at KRAs | Status of KYC record in KRA system | Remarks |
|---|---|---|---|---|
| A |
i) PAN is Existing and Valid. ii) Name and DOB in KYC data matches with ITD records iii) Name and Address in KYC data matches with the source XML file or details extracted post-scanning of QR code on e-AADHAAR, m-AADHAAR or scanned copy of the AADHAAR card as uploaded/provided along with the KYC record by SEBI registered Intermediary (SRI) iv) Both email and mobile as uploaded by SRI in KYC record are validated through delivery of email/SMS or through OTP. v) PAN AADHAAR linkage response from ITD is any of Yes or PAN is Operative for Resident Indian category of Investors and is Not applicable and PAN is Operative for NRI, Foreign National category of investors, persons of age 80 years and above and PAN holders from the states of Assam, Meghalaya and Jammu and Kashmir. |
All 5 points (A-i to A-v) are validated by KRAs (There is no change in this process currently followed by KRAs and will be continued on as-is basis) | KYC Validated | As per FAQs issued by SEBI, Mobile is mandatory to be uploaded in KRA system for KYC records where online KYC is done by SEBI Registered Intermediaries (SRIs) |
| B | Points A-i, A-ii are validated by KRAs. Source Validation of KYC as in point no A-iii cannot be performed by KRAs/ is not possible. With regard to point (A-iv) Either email or mobile gets validated by KRAs A-v- PAN and Aadhaar not linked /PAN is not operative as per the response received from ITD by KRAs |
KYC Registered | ||
| C | Points A-i, A-ii, A-iii are validated by KRAs and A-v (PAN may be operative/inoperative) However, neither email nor mobile gets validated by KRAs (Point no A-iv) | On Hold |
Also, Please note that the existing KYC records will be updated by KRAs on/after May 31, 2024 as follows,
1. Status of all records put on hold due to non-validation of email, mobile or both at KRAs will be checked and KYC records where either mobile is validated but email isn’t and where email is validated but mobile isn’t will be changed from On Hold status to KYC Registered status irrespective of any KYC type and any OVD (including deemed OVD) for all individual category of investors.
2. In the case of KYC records where only email is uploaded or only mobile is uploaded and these aren’t validated will continue to be retained in On Hold status.
3. The status of all records put on hold due to PAN Aadhaar linkage non-compliance will be changed from On Hold status to KYC Registered status irrespective of any KYC type and any OVD (including deemed OVD) for all individual categories of investors.
4. The KYC status changes in existing KYC records will be intimated by KRAs to all Stock Exchanges and both Depositories.
Furthermore, the KYC records uploaded and to be uploaded under the category Non-Resident Indian (NRI) and in KYC Registered status will be allowed to transact with their existing SRIs and will also be allowed to transact with new SRIs till April 30, 2025.
For more details, read the Notice.
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- Investors with KYC status “On-Hold” or “Rejected,” must be validated to trade or square off open positions
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