Synopsis

SEBI proposes digital Know Your Client processes for overseas investors. This move aims to simplify account opening for Non-Resident Indians and foreign nationals. Eligible investors can complete KYC from their country of residence, removing physical presence needs. This change is expected to boost NRI capital inflows into Indian financial markets. The proposal seeks to reduce onboarding time and paperwork significantly for investors.

etimes.in

SEBI's proposal to allow Non-Resident Indians (NRIs) and other eligible overseas investors to complete KYC digitally from their country of residence could reduce the time and paperwork involved in investing in Indian markets, Zerodha founder and CEO Nithin Kamath said.



Kamath welcomed the proposal in a social media post, saying it could address a long-standing hurdle for overseas investors seeking to open accounts in India.



SEBI last week issued a consultation paper titled "Review of Know Your Client Process for Individual Persons Resident Outside India". It proposed relaxing the existing requirements for individual persons resident outside India, including NRIs, Overseas Citizens of India (OCIs) and foreign nationals living abroad in countries compliant with the Financial Action Task Force (FATF).

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