India’s market regulator SEBI is proposing major simplifications for Non-Resident Indians (NRIs) regarding re-KYC (Know Your Customer) and KYC modifications. The move aims to remove the previous requirement for NRIs to be physically present in India for digital onboarding, re-KYC, or modification via geo-tagging or video verification.
The key change targets the burdensome geo-tagging rule. Under current norms, NRIs must verify their presence in India (often through GPS location during video identification) to complete or modify KYC. SEBI’s latest draft guidelines promise a smoother, user-friendly process.
NRIs updating KYC information or completing re-KYC digitally will no longer need to be physically in India. Previously, geo-tagging required NRIs to verify their location within India during the process.Intermediaries will instead use GPS location checks aligned with the NRI’s proof-of-address, removing strict geo-tag requirements.
SEBI’s new policy also expands the use of Video Client Identification Process (V-CIP), enabling NRIs to prove their identity and update details securely via online video, with all necessary safeguards against fraud, for completing the KYC.
NRIs whose KYC is validated need not repeat the process when switching intermediaries; their validated records can be transferred, reducing redundancy.
SEBI will accept validation via email or mobile (rather than requiring both), especially helpful given Aadhar and OTP issues for NRIs whose Indian phone numbers might not work abroad.
This policy marks a significant step towards making Indian investment processes more accessible for NRIs, fostering seamless investment flows and regulatory compliance without unnecessary travel.
The draft circular is now open for public comments until November 13, 2025, inviting wider participation from stakeholders to further refine the framework.