 "Sebi considers easing re-KYC, modifications for NRIs through geo-tagging")
The Securities and Exchange Board of India (Sebi) on Thursday issued a draft circular to ease the requirement for non-resident Indian (NRI) clients to be physically present in India during KYC modification or re-KYC in the course of digital on-boarding or video client identification.
Under the proposed norms, through an app, it will be ensured that the GPS location captured by the intermediary matches that of the country given in the client’s proof of address.
The app will also prevent connections from spoofed IP addresses.
It will include features for random action initiation to prompt client responses, establishing that the interactions are not pre-recorded. These interactions will be time-stamped and geo-location tagged.
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