Relaxations in Know Your Client (KYC) norms for individual Persons Resident Outside India (i.e. Non-Resident Indians, Overseas Citizens of India and foreign nationals)

PR No.46/2026 Relaxations in Know Your Client (KYC) norms for individual Persons Resident Outside India (i.e. Non-Resident Indians, Overseas Citizens of India and foreign nationals)  Simplified KYC through digital onboarding  No requirement of physical presence in India  One KYC for multiple intermediaries In order to ease the process of on-boarding for individual PROI clients, SEBI has released a consultation paper proposing relaxations in their KYC norms.

KEY PROPOSALS INCLUDE: a) Eliminate the requirement of physical presence in India for PROI clients from FATF-compliant countries, to complete their KYC through digital mode; b) Allow intermediaries to rely on KYC undertaken by entities regulated by other Financial Sector Regulators.

c) Mandate collection of email ID from PROI clients to facilitate communication with intermediaries. d) Expand the list of authorised officials who can certify documents to include officials of overseas banks having relationships with Indian banks.

e) Permit PROI client’s KYC records to be portable across intermediaries in securities market. f) Specify safeguards for Video In Person Verification (VIPV) including spoofed IP prevention, concurrent audit, and cyber security compliance.

Page 1 of 2A consultation paper elaborating the proposals has been uploaded on the SEBI website for seeking inputs from the public. The same may be accessed through the

following link: https://www.sebi.gov.in/reports-and-statistics/reports/aug- 2026/consultation-paper-on-review-of-know-your-client-process-for-individual- persons-resident-outside-india_103653.html The last date for submission of public comments is September 04, 2026.

Mumbai August 14, 2026 Page 2 of 2