The National Commodity & Derivatives Exchange Limited (NCDEX) on August 13, 2026, issued circular on KYC Validation Status of Clients – Trading Restrictions w.e.f. August 31, 2026 & Guidelines for Reporting Demise of Investors through KRAs.
This is with reference to SEBI circular SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated August 11, 2023, NCDEX circular NCDEX/COMPLIANCE-086/2023 dated August 14, 2023, and the latest monthly Exchange circular NCDEX/MEMBERSHIP-027/2026 dated July 14, 2026 on "Simplification of KYC process and rationalisation of Risk Management Framework at KRAs" and related SEBI KYC Registration Agency (KRA) Regulations, 2011 guidelines.
Clients whose KYC remains "On Hold" and unvalidated by KRAs (whether AADHAAR or Non-AADHAAR based OVD, uploaded between July 01, 2026 and July 31, 2026) will not be permitted to trade on the Exchange, nor will they be able to square off open positions, w.e.f. August 31, 2026, until the KYC requirement is complied with. Such open positions, if unresolved, will lapse naturally on the contract's expiry date. Once a PAN becomes KRA compliant, trading will be permitted on a T+1 basis, based on information received from the KRA on T day. The list of non-validated clients is available via WEB Extranet – Download Files – Reports – Dnld.
Separately, as per SEBI circular SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/0000000163 dated October 03, 2023, on the centralized mechanism for reporting an investor's demise through KRAs, all SEBI-registered Regulated Entities are required to block debit transactions in such accounts, suspend all transactions in the trading account, and inactivate/close the UCC across all Stock Exchanges.
[Circular No. NCDEX/MEMBERSHIP-033/2026]
