The Bombay Stock Exchange (BSE) on December 24, 2025, notified regarding the extension for Upload of Client Records to KRAs for Validations.
The Securities and Exchange Board of India (SEBI) mandates that intermediaries upload completed client KYC records to KYC Registration Agencies (KRAs) within prescribed timelines. While earlier norms required upload within 10 working days, SEBI revised the timeline to 3 working days from completion of the KYC process vide its circular dated October 12, 2023. SEBI has also clarified that clients may commence trading upon KYC completion; however, if KYC attributes are not verified, further transactions are prohibited until verification is completed.
A review comparing PANs in the UCC database with KRA records revealed non-compliance by several Trading Members with the revised 3-day KYC upload requirement, which constitutes a regulatory breach. Trading Members are reminded that only clients with KRA status “KYC Registered” or “KYC Validated” are permitted to trade, ensuring interoperability and preventing investor inconvenience.
In response to requests from Trading Members following Exchange circular dated September 26, 2025, the Exchange has extended the compliance timeline to January 30, 2026. PANs whose KYC status remains unvalidated by KRAs will not be permitted to trade or square off existing positions. Members are advised to closely monitor such clients’ open positions and coordinate directly with the respective KRAs to resolve KYC status issues.
[Notice no. 20251224-25]
