SEBI permits NSE to undertake e-KYC Aadhaar authentication

New Delhi, September 8

Markets regulator SEBI on Tuesday added the National Stock Exchange (NSE) to the checklist of entities that may undertake e-KYC Aadhaar authentication.

The regulator, in May, had come out with an inventory of eight entities permitted to make use of e-KYC (Electronic-Know Your Customer) Aadhaar authentication.

Central Depository Services (India) Limited (CDSL), National Securities Depository Limited (NSDL), BSE, CDSL Ventures, NSDL Database Management, NSE Data and Analytics, CAMS Investor Services and Computer Age Management Services have been the eight entities that have been allowed to make use of e-KYC Aadhaar authentication.

In a round issued on Tuesday, SEBI stated: “National Stock Exchange of India Limited shall undertake Aadhaar authentication service of the UIDAI subject to compliance of the conditions as laid down in this regard.”

To present the service, entities must get registered with UIDAI as KYC consumer company (KUA) and permit SEBI registered intermediaries or mutual fund distributors to undertake Aadhaar authentication in respect of their purchasers for the aim of KYC.

Further, the SEBI registered intermediaries and mutual fund distributors who wish to undertake Aadhaar authentication companies by means of KUAs, are required to enter into an settlement with KUA and get themselves registered with UIDAI as sub-KUAs.

The settlement on this regard can be as prescribed by the Unique Identification Authority of India (UIDAI).

The KUAs and sub-KUAs must comply with the method as could also be prescribed by UIDAI every so often. They will even need to comply with the method really helpful by SEBI on e-KYC authentication facility.

The CDSL and its wholly-owned subsidiary CDSL Ventures had obtained clearance from UIDAI in August and July, respectively, to behave as an area Authentication User Agency (AUA) or KUA. PTI

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