The National Commodity & Derivatives Exchange Limited (NCDEX) on February 12, 2026, issued the guidelines in pursuance of the amendment to SEBI KYC (Know Your Client) Registration Agency (KRA) Regulations, 2011.
The following has been stated:
• It clarifies that clients whose KYC status is marked as “On Hold” by KRAs—whether Aadhaar-based or non-Aadhaar OVD-based—and uploaded between January 1, 2026, and January 31, 2026, will not be permitted to trade on the Exchange from March 2, 2026, onwards unless their KYC is duly validated.
• Such clients will also not be allowed to square off their existing open positions, and those positions will be allowed to expire naturally on the respective contract expiry date. However, once a PAN becomes KRA-compliant, trading will be permitted on a T+1 basis, based on the validation information received by the Exchange from the KRA.
• The Exchange has provided a list of non-validated clients on the Web Extranet for members’ reference. Trading members are advised to ensure strict compliance by restricting trading access for such clients and closely monitoring any open positions to avoid regulatory breaches.
[Notification no. - NCDEX/MEMBERSHIP-005/2026]
