Overview
- SEBI’s draft sets a standard process so new folios are fully KYC‑compliant at both the AMC and KRA levels before any investment proceeds.
- First investments would be permitted only after a KYC Registration Agency verifies details and marks the folio compliant in its system.
- Investors would receive real‑time updates on KYC status through registered email and mobile at each step of onboarding.
- The proposal responds to transaction delays, communication gaps, and rising unclaimed dividends or redemptions caused by the current sequential checks.
- AMCs, KRAs, and intermediaries are instructed to align and upgrade internal systems once the framework is finalized following the consultation.