Category Archives: Account Opening
In case of new clients, whether RIs need to wait for validation of KYC records by KRAs before allowing the client to transact in securities market?
With respect to new clients where KYC is uploaded after this process comes into effect, RI shall allow transactions only after the validation of KYC records.
Whether any new KYC identifier will be issued by KRAs for KYC records validated by KRAs?
PAN & PEKRN (PAN-exempt KYC Reference Number) shall continue as KYC identifier and KYC Validation status will also be given.
Whether PAN Aadhaar linkage status will be updated in KRAs?
KRAs shall use Income Tax Department’s APIs to record the Aadhaar seeding status in KYC records.
Whether any consent to be sought from client by RIs?
Yes. The consent shall be obtained from Aadhaar holder for sharing of Aadhaar data/ related passcode / XML data / QR code from Aadhaar image / e-Aadhaar etc. for sharing… Read more »
Whether KYC records that cannot be validated using Aadhaar can be treated as invalid?
Yes. KRAs shall attempt validation of such records through available options. In case, validation of KYC is not completed, the KYC record shall be treated as invalid for KRA service… Read more »
Whether OTP based validation of mobile number and email ID will again be done by KRAs even after same are validated and uploaded to KRA by RIs as part of KYC data?
KRAs shall validate Mobile and Email by performing OTP validation. If OTP is not submitted by client, KRA shall validate the same based on delivery notification report.