SEBI has also proposed allowing securities market intermediaries to rely on KYC carried out by entities regulated by other financial sector regulators.The Securities and Exchange Board of India (SEBI) on Friday proposed a set of relaxations in Know Your Client (KYC) norms for individual Persons Resident Outside India (PROI), including Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs) and foreign nationals.The proposals, aimed at making it easier for overseas individuals to enter India’s securities market, seek to simplify onboarding through digital processes and reduce the need for physical documentation and presence in India.Under the proposed framework, individual PROI clients from countries compliant with the Financial Action Task Force (FATF) would no longer need to be physically present in India to complete KYC. Instead, their KYC could be completed through digital modes, potentially making the process faster and more convenient for overseas investors, Sebi said.SEBI has also proposed allowing securities market intermediaries to rely on KYC carried out by entities regulated by other financial sector regulators.Also read | SEBI to revamp securities lending scheme, launch Setu portal and test bond tokenisationThis could reduce duplication of checks when an investor already has a verified relationship with a regulated financial institution.Another proposal is to make the collection of an email ID mandatory for PROI clients. SEBI said this would facilitate communication between overseas clients and intermediaries.The regulator has also proposed expanding the list of authorised officials who can certify documents submitted for KYC.Story continues below this adOfficials of overseas banks that have relationships with Indian banks could be included in the list, potentially making document certification easier for investors abroad.A key proposal is the portability of KYC records.Under the proposed system, a PROI client’s KYC records could be used across multiple intermediaries in the securities market, reducing the need to repeatedly submit the same information to different entities, SEBI said.At the same time, SEBI has proposed safeguards for Video In-Person Verification (VIPV), including measures to prevent spoofed IP addresses, concurrent audits and compliance with cybersecurity requirements.The proposals are part of SEBI’s efforts to streamline investor onboarding while retaining safeguards against money laundering, fraud and other financial risks.George Mathew is an Associate Editor with The Indian Express, based in Mumbai. A veteran of financial journalism with nearly three decades of experience, he is one of the country’s most authoritative voices on banking, regulation, and the corporate sector. Expertise & Focus Areas Mathew’s reporting covers the nerve center of India’s economy. His specialized beats include: The Reserve Bank of India (RBI): He has tracked the central bank's policy evolution through the tenures of multiple Governors, offering deep insights into monetary policy, repo rates, and banking regulation. Banking & Insurance: Extensive coverage of public and private sector banks, non-performing assets (NPAs), and key legislative reforms like the Insurance Amendment Bills. Corporate Affairs: Mathew frequently breaks major stories related to India's largest conglomerates, with a specific focus on the Tata Group, documenting boardroom shifts and strategic decisions. Financial Markets: Reporting on the complexities of Foreign Portfolio Investors (FPIs), IPOs, and currency fluctuations. Authoritativeness & Insight With a career dating back to the late 1990s, Mathew possesses a rare institutional memory of India’s financial liberalization and market crises. His work is not limited to daily news; he frequently contributes to the "Explained" section, where he decodes complex financial legislations and market trends for a broader audience. His rigorous reporting has also been featured in scholarly platforms like the Economic and Political Weekly (EPW). Find all stories by George Mathew here ... Read More Tags:Sebi