Sebi approves CAMS KYC registration agency

The Securities and Exchange Board of India (Sebi) has approved CAMSKRA, a wholly owned subsidiary of Computer Age Management Services (CAMS), to serve as a KYC Registration Agency (KRA). The KRA initiative is aimed to eliminate duplication of KYC efforts which an investor has to undergo while dealing with multiple intermediaries like mutual funds, portfolio management services, private equity funds, brokers and depository participants.