- SEBI's big decision eases the worries of NRIs
- Do all investments in India while sitting abroad
- What is the current rule? How will it benefit?
SEBI Big Decision: Investing in the Indian stock market is now going to be even easier for Indians living abroad. Market regulator SEBI has proposed to simplify the digital KYC process for non-resident Indians, non-resident citizens of India and foreign nationals residing abroad. This will eliminate the need for investors to come to India to complete KYC. So it can be seen as a beneficial aspect for investors. What exactly are the benefits? (Big Decision)
Tata Group Multibagger Stock : Paisa paisa… one share of Tata changed the fortune of investors! Explosive earnings of 63% in 6 months
Sebi has issued an advisory, which states that individuals residing in FTF-compliant countries and residing outside India will be allowed to complete KYC and onboarding digitally from abroad.
What are the current rules?
Currently, digital onboarding is very difficult for customers residing outside India. During digital KYC, the location of the customer must be in India as the latitude and longitude are recorded in this process. As a result, NRI investors residing abroad have to travel long distances to come to India for the actual KYC process.
What methods will be used?
Sebi has discussed several options to simplify digital KYC. These include digital signature, DigiLocker, digital Aadhaar authentication and video-based physical verification. But digital KYC does not mean that verification will be completely separate and easy from security checks. The regulator has also proposed several security measures to determine the identity and location of investors.
Who will benefit?
The proposal applies to Non-Resident Indians (NRIs), Overseas Indians (OCIs) and all foreign nationals residing outside India. But this proposal is specifically for those living in FATF-compliant countries.
Burger King FDA Action : Whose number next? Big blow to Burger King from FDA, outlet closed since 1992