Markets regulator Securities and Exchange Board of India (SEBI) on Tuesday relaxed Know Your Customer (KYC) norms to simplify the risk management framework.
Issuing an updated notification on the master circular dated October 12 last year, SEBI said the norms have been relaxed based on the feedback given by the stakeholders in the securities market and for the ease of transacting by clients.
“Sebi circular dated October 12, 2023, has specified the Risk Management Framework at KRAs ((KYC Registration Agencies) wherein the attributes for verification by KRAs have been mentioned. Based on the feedback received from the stakeholders in the securities market and for ease of transacting by clients, the provisions of the Master Circular dated October 12, 2023, have been reviewed and it has been decided to simplify the risk management framework,” the markets regulator said in an official release.
