Investors not to pay for maintaining KYC data: SEBI
SEBI, which is working on simplifying the Know Your Customer (KYC) process for easy investing, said there will be no burden on investors for maintaining their data with the KYC Registration Agency (KRA). In case of demat, an investor has to pay annual maintenance and usage charges for their account with the two depositories. In case of single KYC data, the KRA will do the record-keeping. SEBI said that KRA regulations had been notified and SEBI is working closely with stock exchanges and intermediaries for the rollout of the new simplified norms. Under the new process, once the investor has ...
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