India’s markets regulator on Friday proposed to allow all individual foreign investors to complete regulatory onboarding digitally to boost participation in the securities markets.
Securities and Exchange Board of India has proposed relaxing the requirement that overseas investors be located in India while undergoing digital know your customer verification
Individuals investing in India from well regulated and compliant jurisdictions would be allowed to complete onboarding through video-based verification and digital document submission
Overseas investors can submit KYC forms and supporting documents electronically, including through digital signatures
Intermediaries will be allowed to rely on KYC records available through a central KYC registry or one maintained by entities regulated by other financial sector regulators, reducing duplication.
Reuters
