The Bombay Stock Exchange (BSE) on December 10, 2025, issued the Guidelines in pursuance of amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011.
The following has been stated namely: -
• As per SEBI and Exchange circulars on simplification of KYC and KRA regulations, all clients’ KYCs must be validated by KRAs, additionally, in case of investor demise reported through KRAs, all debit and trading transactions must be blocked and UCCs inactivated by SEBI-registered entities.
• Clients whose KYC status is “On Hold” (Aadhaar and non-Aadhaar based OVDs) for records uploaded to KRAs between November 01–30, 2025 will not be permitted to trade or square off open positions with effect from December 20, 2025, until KYC validation is completed.
• The Exchange will flag non-compliant PANs as “Not Permitted to Trade” from December 20, 2025
• PANs that subsequently become KRA-compliant will be allowed to trade from T+1 day, based on KRA confirmation.
[Notification No. 20251210-27]
