The Securities and Exchange Board of India (Sebi) on Wednesday eased re-KYC requirements for Non-Resident Indians (NRI’s), eliminating the need for them to be physically present in India during digital verification. The change is intended to make the re-KYC process more convenient and accessible for NRIs.
In a newly issued circular,
Sebi announced amendments to the existing guidelines after receiving representations from various stakeholders seeking simpler procedures.
Under the revised rules, the earlier condition that clients must be located within India during digital onboarding has now been relaxed specifically for re-KYC of existing NRI customers.
Re-KYC involves updating or reaffirming a client’s previously submitted KYC information with financial intermediaries.
Although onboarding new clients still requires the applicant to be physically situated in India, NRIs who are already registered can now complete their re-KYC from overseas. Sebi has maintained several security checks—such as random prompts, time stamps, and geo-tagging—to ensure the authenticity of the process.
Additionally, the digital KYC application must confirm that the GPS coordinates align with the country specified in the customer’s address proof, and it must block attempts using spoofed IP addresses to prevent falsified locations.
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