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KYC registration agency in Mumbai
| 16/02/2012 02:51 PM |
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NSDL Database Management Ltd (NDML), a wholly-owned subsidiary of National Securities Depository Ltd (NSDL), has established KYC Registration Agency (KRA) pursuant to SEBI KYC Registration Regulations, 2011. To avoid duplication of KYC process with every intermediary, SEBI has prescribed a mechanism for centralisation of the KYC records in the securities market.
KRA will maintain the KYC records of investors in physical and electronic form. An intermediary will upload the details the KYC of its clients on the KRA system. When the client approaches another intermediary, that intermediary can verify and download the client’s details from the system. So, ...
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