KYC registration agencies

-

KYC is mandatory for all investors (individuals and non-individuals) in a service providing scheme, irrespective of the amount invested. In case of joint applications for a fund, all the joint holders need to be KYC compliant. For investments by a minor, the Guardian should be KYC compliant. The minor, upon attaining majority, should immediately apply for KYC compliance in his/ her own capacity and intimate the concerned option trading tips providers. Investors who wish to invest through a Power of Attorney (PoA) holder have to ensure that both the investor and the PoA holder should be KYC compliant.
SEBI has issued the KYC Registration Agency Regulations, 2011 in exercise of the powers conferred under the SEBI Act.
Under the said Regulations, a KYC Registration Agency (KRA) is a company formed and registered under the Companies Act, 2013 and which has been granted a certificate of registration under the Regulations.
The KRA must obtain the KYC documents of the client from the intermediaries. The KRA maintains the KYC records of an investor centrally, on behalf of the capital market intermediaries and commodity tips provider registered with SEBI. It is also responsible for retaining the original KYC documents of investors in both physical and electronic form for the prescribed period.
KRA accepts the KYC forms and documents pertaining to proof of identity and proof of address received from intermediaries. It scans, digitalizes the documents and thereafter issues acknowledgements/ conveys rejections to the investor.

Comments

Post a Comment

Popular posts from this blog

Closing Update of Indian Share Market of 3 December'2018

-
Image
The Indian Stock Market finishes a stormy session on Monday with delicate gains, following advances in Asian companions as investors applauded facilitating of worries on the US-China exchange front. BSE benchmark record Sensex finished 46 points higher at 36,241, while the NSE Nifty settled at 10,883, up 7 from the past close.  The key indices closed higher for the 6th back to back session. Whereas strength in PSU banking, commodities and infrastructure stocks pushed the business sectors higher, weakness in pharmaceuticals held the upside under wraps.  Top Gainers on the 50 scrip Nifty were IndiaBulls Housing Finance, Yes Bank, Hindustan Unilever, Vedanta and GAIL, finishing between 3.5 percent and 10 percent higher.  Top Loser’s were Sunpharma, Hindpetro, M & M, UPL, Zeel, DR Reddy, IOC, Bajaj Finance and Cipla.
Read more

Morning Update of Indian Share Market- 5 December 2018

-
Image
The Indian Stock Market opens on a negative on a Wednesday, before the result of RBI fifth bi-monthly policy review. The S&P BSE Sensex opened at 36,035.65, and also the nifty50 measuring device of the National Stock Exchange (NSE), opened at 10,820.45.  At 9:17Am, the Sensex was at 35,949.25, down 185.06 points or 0.51% and also the nifty50 was at 10,808.55, with a loss of 60.95 points or 0.56%.In the last session, Sensex had closed at 36,134.31 and the Nifty at 10,869.  The top gainers stocks are: IOC, ONGC, NTPC, Infratel, BPCL, HDFC Bank, Sunpharma and GAIL.  The Top losers stocks are – Hindalco, Tatamotors, Titan, ITC, Kotak Bank and Infy. Free Stock Tips
Read more

6 December 2018- Morning Update

-
Image
Intraday Tips The Equity benchmarks fell in opening exchange in Thursday in the midst of powerless worldwide prompts. The S&P BSE Sensex opened at 35,694.25 and the Nifty50 measuring device   of the National Stock Exchange (NSE) at 10,718.15, against their last closing level   of 35,884.41 and 10,784.95 individually. At 9:17 am, the 30-share Sensex was at 35,671.53, down 212.88 focuses or 0.59%, and the Nifty50 was at 10,708.55, with lost 74.35 focuses or 0.69%. Forty five out of 50 Nifty stocks were in the red. Trading   between 1.87-2.28% lower, the main 5 Nifty washouts were Yes Bank, JSW Steel, Indiabulls Housing Finance, ONGC and Hindalco Industries. In the sectoral scene, misfortunes were driven by metal stocks (down 1.73%). In world markets, US stock prospects tumbled on Thursday and Asian markets followed once Canadian authorities captured a best official of Chinese tech mammoth Huawei Technologies, fanning fears of further strains among China and the Un
Read more