SEBI seeks feedback on simpler KYC enabling remote securities accounts
SEBI is planning to simplify the Know Your Customer (KYC) process for nonresident Indians, OCIs, and foreign nationals in FATF-compliant countries.
If these changes go through, you could open a securities account in India without flying over, as the process would still involve video in-person verification (VIPV), a wet signature during VIPV, and additional controls for some cases.
SEBI is also asking for public feedback until September 4.
Online KYC via DigiLocker Aadhaar video
The proposed system lets you complete KYC online using apps or websites, with scanned and electronically signed forms.
Verification could happen through DigiLocker, Aadhaar, or certified documents, even from overseas banks connected to Indian banks.
SEBI is also looking at video calls to confirm your identity with GPS and facial matching technology.
KYC portability and conditional mobile verification
KYC info might soon be portable, meaning once your details are verified, you won't have to repeat the process with different intermediaries.
Mobile number verification will only be required when it's possible, making things smoother for people living abroad.