Sebi working on common KYC | business | Hindustan Times
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Sebi working on common KYC

Aiming to ease procedural hurdles that investors face, market regulator SEBI on Tuesday said it was in talks with other regulators, including RBI and IRDA, for common know-your-customer norms for the financial sector.

business Updated: Apr 17, 2012 22:04 IST

Aiming to ease procedural hurdles that investors face, market regulator SEBI on Tuesday said it was in talks with other regulators, including RBI and IRDA, for common know-your-customer norms for the financial sector.

“We are in dialogue with the banking regulator, insurance regulator. We are working towards that. In the near future one KYC with any one of the KYC Registration Authority (KRA) will suffice for all the transactions across spectrum of the financial sector, Securities and Exchange Board of India chairman U K Sinha said.

Sinha said SEBI was in talks with regulators in this regard and the common KYC may come soon. At present, there are different requirements and yardsticks for KYC in the financial sector.