Notice No20230902-1Notice Date02 Sep 2023
SubjectGuidelines in pursuance of amendment to SEBI KYC Registration Agency (KRA) Regulations, 2011

To All Members,

This is with reference to SEBI circular No. SEBI/HO/MIRSD/DoP/P/CIR/2022/46 dated April 06, 2022, SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated August 11, 2023, Exchange notice no. 20220412-12 dated April 12, 2022, 20230421-49 dated April 21, 2023, 20230811-35 dated August 11, 2023 and 20230818-44 dated August 18, 2023 on “Guidelines in pursuance of amendment to SEBI KYC Registration Agency (KRA) Regulations, 2011” and “Simplification of KYC process and rationalisation of Risk Management Framework at KYC (Know Your Client) Registration Agencies (KRAs).”

Your attention is hereby drawn to point 11 of the SEBI Circular SEBI/HO/MIRSD/DoP/P/CIR/2022/46 dated April 06, 2022, which states the following: 

“Clients whose KYC records are not found to be valid by KRA after the validation process shall be allowed to transact in securities market only after their KYC is validated.”

In continuation to above Exchange vide  notice no. 20230818-44 dated August 18, 2023  states that “clients whose KYC are not found valid by KRA, such UCCs shall neither be Permitted to Trade on the Exchange, nor will they be able to square up their open positions, if any, w.e.f. September 02, 2023, until they comply with the aforesaid requirement.”

In view of the above, the Exchange has provided the status of non-compliant PANs provided by the KRAs, indicating that they will not be permitted to trade starting from September 04, 2023. It may be noted that these PANs will not be allowed to square off their open positions, if any.All PANs that become KRA compliant subsequently, will be permitted to trade on T+1, based on the information received from KRA by the Exchange on T Day.

Trading members may please note that KRA status in UCC is provided at the below given path:

Download All Report àKRA Status

Exchange will be downloading list of non-compliant PAN’s (clients) provided by KRA’s, in the UCC database of the Exchange. Name and path of the file is as below:

UCC à Download UCCs having Invalid PAN by KRA


Please make a note of the above.


In case of any clarifications, members may contact us on details given as under:


Contact Nos.

022-2272 8435/5785

Email ID


For and on behalf of BSE Ltd.



Hiteshkumar Desai                                         Jyoti Thukral

General Manager                                            Senior Manager

Brokers’ Supervision                                      Brokers’ Supervision