Sebi to accept Unique Identification Authority of India e- KYC as address, identity proof
Market regulator Sebi today said it
will accept e-KYC (Know Your Client) service of UIDAI as a valid proof of
identity and address for opening accounts with brokerage firms, mutual funds,
portfolio managers and other capital market entities.
'Aadhaar', is a 12-digit individual
identification number issued by UIDAI (Unique Identification Authority of
India).
"In consultation with UIDAI and the
market participants, it has now been decided to accept e-KYC service launched by
UIDAI also, as a valid process for KYC verification," the Securities and
Exchange Board of India (Sebi) said.
"The information containing relevant
client details and photograph made available from UIDAI as a result of e-KYC
process shall be treated as sufficient proof of Identity and address of the
client," it added.
However, the client would have to
authorise the intermediary to access his data through UIDAI system, Sebi said in
a circular issued today to mutual funds, brokers, depository participants,
portfolio managers, alternative investment funds and collective investment
schemes, among other market entities.
In August 2012, Sebi had allowed
investors to use 'Aadhaar' cards as a valid address proof for their accounts
with brokerage firms, mutual funds, portfolio managers and other capital market
entities.
Aadhaar is already permitted as valid
ID proof and address proof documents in the KYC (Know Your Customer) procedures
for opening of bank accounts, insurance, telecom and many other
services.
Besides, the regulator had said that
Aadhaar can be used as 'Proof of Address for Know Your Client (KYC) norms' of
Sebi.
(BS)
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Sebi to accept Unique Identification Authority of India e- KYC as address, identity proof
Reviewed by Unknown
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Reviewed by Unknown
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10:26:00 AM
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