CIRCULAR
SEBI/HO/MIRSD/SECFATF/P/CIR/2024/17 March 19, 2024
To,
1. All Intermediaries registered with SEBI under Section 12 of the Securities
and Exchange Board of India Act, 1992
2. Stock Exchanges
Dear Sir/Madam,
Subject: Entities allowed to use e-KYC Aadhaar Authentication services of
UIDAI in Securities Market as sub-KUA
1. The Master Circular on Know Your Client (KYC) norms for the securities market
SEBI/HO/MIRSD/SECFATF/P/CIR/2023/169 dated Oct 12, 2023 inter alia has
detailed the provision for ‘the adaptation of Aadhaar based e-KYC process and e-
KYC Authentication facility for Resident Investors under section 11A of the
Prevention of Money Laundering Act, 2002, entities permitted to undertake e-KYC
Aadhaar Authentication service of UIDAI in Securities Market as sub-KUA, and on-
boarding process of sub-KUA by UIDAI’.
2. Department of Revenue, Ministry of Finance vide gazette notification S.O. 3187(E)
dated July 13, 2022 and S.O. 446(E) dated Jan 30, 2023 has notified 155 and 39
entities respectively, to undertake Aadhaar authentication service of UIDAI under
Section 11A of the Prevention of Money Laundering Act, 2002. These notified
entities have been annexed in para 68 of the said SEBI Master Circular.
3. Now, vide Gazette Notification S.O. 1339(E) dated March 14, 2024, Department of
Revenue-Ministry of Finance has notified another 4 entities which are permitted to
use Aadhaar authentication services of UIDAI under section 11A of the Prevention
of Money-laundering Act, 2002. A copy of the notification is attached at
Annexure A.
1
4. The above mentioned entities shall follow the process as detailed in SEBI circular
dated Oct 12, 2023 and as may be prescribed by UIDAI from time to time. The KUAs
shall facilitate the on-boarding of these entities as sub-KUAs to provide the services
of Aadhaar authentication with respect to KYC.
5. This circular is issued in exercise of powers conferred under Section 11(1) 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.
Yours faithfully,
Sapna Sinha
Deputy General Manager
Market Intermediaries Regulation and Supervision Department
Tel. no.:022 2644 9748
email id: sapnas@sebi.gov.in
2