The International Financial Services Authority (IFSCA) on June 26, 2026, issued a Consultation Paper for issuing a Draft Circular on the Integration of Regulated Entities with KYC Registration Agencies in IFSC.
The following has been stated:-
•The International Financial Services Centres Authority (IFSCA) has released a consultation paper proposing a circular that requires all regulated entities in IFSC to integrate with at least one KYC Registration Agency (KRA) to streamline KYC processes and eliminate duplication.
•The draft mandates regulated entities to complete KRA integration within two months and upload KYC records of all new clients onboarded from September 01, 2026, while existing active client records must be uploaded by October 30, 2026.
•KRAs will assign a unique identification number to each client to facilitate seamless onboarding across IFSC financial institutions.
•The circular also places compliance responsibilities on regulated entities, KRAs, and Market Infrastructure Institutions (MIIs), with the latter required to monitor adherence among their members.
•Public comments on the draft circular have been invited until July 16, 2026.
The detailed notification is given in the document below.
