Sebi allows NSE to undertake e-KYC Aadhaar authentication

By: |
September 8, 2020 4:04 PM

Markets regulator Sebi on Tuesday added the National Stock Exchange (NSE) to the list of entities that can undertake e-KYC Aadhaar authentication.

Novel Coronavirus COVID-19, COVID-19 lockdown, essential services, online services, online transactions, video KYC, financial sector, RBI, SEBI, video KYC processThe KUAs and sub-KUAs need to follow the process as may be prescribed by UIDAI from time to time.

Markets regulator Sebi on Tuesday added the National Stock Exchange (NSE) to the list of entities that can undertake e-KYC Aadhaar authentication. The regulator, in May, had come out with a list of eight entities permitted to use e-KYC (Electronic-Know Your Customer) Aadhaar authentication. Central Depository Services (India) Ltd (CDSL), National Securities Depository Ltd (NSDL), BSE, CDSL Ventures, NSDL Database Management, NSE Data and Analytics, CAMS Investor Services and Computer Age Management Services were the eight entities that were allowed to use e-KYC Aadhaar authentication.

In a circular issued on Tuesday, Sebi said, “National Stock Exchange of India Limited shall undertake Aadhaar authentication service of the UIDAI subject to compliance of the conditions as laid down in this regard”. To provide the service, entities need to get registered with UIDAI as KYC user agency (KUA) and allow Sebi registered intermediaries or mutual fund distributors to undertake Aadhaar authentication in respect of their clients for the purpose of KYC. Further, the Sebi registered intermediaries and mutual fund distributors who want to undertake Aadhaar authentication services through KUAs, are required to enter into an agreement with KUA and get themselves registered with UIDAI as sub-KUAs.

The agreement in this regard will be as prescribed by UIDAI (Unique Identification Authority of India). The KUAs and sub-KUAs need to follow the process as may be prescribed by UIDAI from time to time. They will also have to follow the process recommended by Sebi on e-KYC authentication facility. CDSL and its wholly-owned subsidiary CDSL Ventures had obtained clearance from UIDAI in August and July, respectively, to act as a local Authentication User Agency (AUA) or KUA.

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