CIRCULAR
SEBI/HO/MIRSD/PODFATF/P/CIR/2025/62 May 06, 2025
To,
All KYC (Know Your Client) Registration Agencies (KRAs)
Dear Sir/Madam,
Subject: Publishing Investor Charter for KYC (Know Your Client) Registration
Agencies (KRAs) on their Websites.
1. In order to facilitate investor awareness about various activities where an
investor/client has to deal with KRAs for availing Investor Service Requests,
SEBI has developed an Investor Charter for KRAs, inter-alia, detailing the
services provided to Investors, Rights of Investors, various activities of KRAs,
Dos and Don’ts for Investors and Grievance Redressal Mechanism.
2. In this regard, all the registered KRAs shall take necessary steps to bring the
Investor Charter, as provided at ‘Annexure – A’ to the notice of existing and
new investors by way of:
a) disseminating the Investor Charter on their websites / through e-mail;
b) displaying the Investor charter at prominent places in offices etc.
3. These disclosure requirements are in addition to those already mandated by
SEBI.
4. This circular is issued in exercise of powers conferred under Section 11(1) of
Chapter IV of the Securities and Exchange Board of India Act, 1992 to protect
the interests of investors in securities and to promote the development of, and
to regulate the securities markets and shall come into effect from the date of
this circular.
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5. The Circular is issued with the approval of the competent authority.
6. This circular is available at www.sebi.gov.in under the link “Legal --- Circulars”.
Yours faithfully,
Sapna Sinha
Deputy General Manager
Tel. No. 022-26449748
sapnas@sebi.gov.in
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ANNEXURE – A
INVESTOR CHARTER – KYC {KNOW YOUR CLIENT} REGISTRATION AGENCIES
(KRAs)
VISION
 To be investor service oriented, market wide repository, facilitating timely
processing, storage and incidental services of KYC records in the securities
market, maintaining the highest standards of data security and record quality.
MISSION
 To enable centralized management and safekeeping of KYC data and reducing
the burden of repeat KYC while ensuring uniform KYC compliance across the
securities market.
 To enable seamless and efficient client on-boarding, ensuring real-time updation
of unique client’s KYC record and automated dissemination of updates to all linked
SEBI Registered Intermediaries
 To foster a secure, efficient, and compliance-driven ecosystem, setting global
benchmark for data integrity and operational excellence.
SERVICES PROVIDED BY KRAs TO INVESTORS
 KYC Registration and Modification: KRA facilitates registration and modification
of KYC records of investors in securities market through SEBI Registered
Intermediaries, ensuring verification and validation of the investor’s identity.
 KYC Status Tracking: KRA provides ease of access to investors/ SEBI
Registered Intermediaries to track status of KYC registration and modification,
online.
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 Solicited/ Unsolicited Feeds: KRA empowers investor to update their KYC
information with any of the SEBI Registered Intermediary for utilisation of their
KYC details across the securities market at the behest of the investor. For this
purpose, KRAs promptly disseminates updated KYC information of an investor to
the relevant linked SEBI Registered Intermediary for further processing.
 Alert Mechanism KRA sends alerts (SMS/Email/physical) at concurrent interval
to the investors at the time of processing registration, modification of download of
KYC records.
 Verification of KYC attributes KRA verifies KYC attributes of investors' KYC
records with official databases for PAN (except for PAN exempt records),
Aadhaar, Name, Address. Additionally Email Id and Mobile Number are also been
verified. Depending on the status of verification/validation of KYCs attributes, KRA
assigns status to KYC as either:
o KYC Validated: The validated records are allowed portability i.e. the
client need not undergo the KYC process again when he approaches
different intermediary in securities market and the intermediary shall
fetch the validated records from the KRA database.
o KYC Registered: Investor is required to perform KYC each time,
investor approach a new SEBI Registered Intermediary.
o KYC On-Hold/Rejected: This may be owing to deficiency in the KYC
documents such as PAN validation failure, Mobile number and Email Id
not verified, etc. Such clients shall be allowed to transact further in the
securities market subject to verification of attributes.
 Data Protection and Privacy: KRA implements safeguards to maintain KYC data
privacy, security, and confidentiality.
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INVESTORS have RIGHT to:
 Assurance of privacy and protection for KYC data, with limited access to
authorized Registered Intermediaries only.
 Verify and ensure that KYC information is accurate and updated.
 Access to prompt grievance redressal mechanism for complaints or issues arising
from KYC process in securities market.
 Avail guidance from KRA on KYC related processes for securities market.
 Access to privacy policy, use of information policy, website policy of KRA for
awareness of the investors.
 View their KYC status online and carry out necessary updates through SEBI
Registered Intermediary.
 Avail facility of delinking the KYC record through an intermediary on reporting
closure of account based relationship by such intermediary.
DOs AND DON’Ts FOR INVESTORS: Investors are encouraged to take the following
actions to ensure seamless KYC compliance:
DO's for Investors:
 Submit valid, accurate, and complete documentation during KYC registration or
modification process.
 Notify SEBI Registered Intermediary of any changes in KYC details (such as
address, contact details, etc.) to maintain the accuracy of the KYC information and
perform re-KYC, as and when required.
 In case investor receives alert from KRAs, about registration, modification or KYC
record download, which is not associated with any of the investor-induced
transaction(s), investors should promptly communicate to KRA on the designated
email ID.
 Know about the Investor Grievance Redressal Mechanism and ensure that
grievances are taken up with the concerned entities within the time limits
prescribed.
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DONT's for Investors:
 Do not deal with unauthorized person(s) for any investor service request such as
updation of KYC details (address, email ID, mobile number etc).
 Do not share One Time Password (OTP), specimen signature, KYC documents
etc. with unknown person(s)
GRIEVANCE REDRESSAL - MODES AND ESCALATION MECHANISM
I] DIRECT COMPLAINT TO KRA:
 Investor can dial on helpline numbers of KRA for any query or concern.
 Investor shall check the website of KRAs for the dedicated grievance e-mail ID
and other relevant details of the grievance redressal division / compliance officer
for registering grievance(s).
 The investor may initially lodge their grievance directly with the KYC Registration
Agency (KRA) on dedicated e-mail ID or through physical letter with the details of
issue being faced.
 Upon receipt of the grievance, KRA after due verification shall send intimation of
redressal of complaint via e-mail / physical letter as applicable, within 21 days from
the date of receipt of such grievance.
II] ESCALATION VIA SCORES PORTAL:
 In case the grievance remains unresolved or the investor is not satisfied with the
redressal, then they may escalate the issue to SEBI electronically through SEBI
Complaints Redress System - SCORES (a web based centralized grievance
redressal system of SEBI at (https://scores.gov.in/)
III] DISPUTE RESOLUTION VIA ODR PORTAL:
 In case the grievance continues to be unresolved even after utilizing the
SCORES escalation process, the investor may initiate dispute resolution
through the SMART Online Dispute Resolution (ODR) Portal to seek the
resolution at (https://smartodr.in/login)
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