Knowledge Center

KRA or KYC Registration Agency is an agency registered with SEBI under the Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency}Regulations, 2011. The KRA maintains KYC records of an investor centrally, on behalf of capital market intermediaries registered with SEBI.

KRA enables an investor to invest through various intermediaries, after undergoing the KYC process only once through an intermediary. This helps in avoiding duplication of KYC process and inconvenience to investors and eliminates the need to submit KYC documents each time he opens an account with another intermediary. Further, any subsequent changes in demographic details of an investor across various intermediaries can be updated by simply updating the record maintained with the KRA. KRA process results in uniformity of data of investors maintained across intermediaries, which would enhance compliance standards.

KRA accepts the KYC form and documents pertaining to proof of identity and proof of address received from the Intermediaries. It scans, digitalizes the documents and thereafter issues acknowledgements/ conveys rejections to the investor. KRA also records any updates on KYC details of investors, which are submitted through an intermediary.

KRA not only prevents duplication and inconvenience to investors, it also enables a single point change management. Further, intermediaries need not collect KYC documents from KYC compliant clients, thus eliminating the need to collect and store the same. Inspection would be on the basis of scanned images, which would simplify compliance with KYC requirements.

An intermediary collects the KYC form and documents only for its clients and verifies with the originals, enters the details of the same in the KRA system and thereafter forwards the authenticated copies of documents to the KRA. Further, in case of any changes in the demographic details submitted to the intermediary by an investor, the intermediary will update the same in the KRA system and thereafter forward the documents to the KRA. The intermediary can also download the KYC details of clients who have signed up with him.

As per SEBI circular MIRSD / Cir - 26/2011, dated December 23, 2011, in-person verification carried out by one SEBI registered intermediary can be relied upon by another intermediary.

Intermediary can register with CVL as per the following procedure:- Enter the login ID, the POS code and the password (as conveyed through email by CVL-KRA) on The user will be redirected to a page for changing the password during his/her first login. Upon successful change of password, the user will have to login to the system with the new password. Access and update the “UPDATE COMPANY INFO” menu. Fill the Registration Form with the correct details. Accept and print the 'Terms and Conditions' on A4 size paper. Click the “submit” button to transmit of registration details electronically to CVL-KRA Intermediary registered by way of the above mentioned process would be allowed access to the KRA system for a period of 21 days (or for any such period as may be decided by CVL-KRA) from the date of activation. The physical documents are to be sent to the following address: CDSL Ventures Limited, 16th Floor, P.J. Towers, Dalal Street, Mumbai – 400 001.

After the completion of the initial registration process, an intermediary must to submit the duly filled in Registration Form for registration of intermediaries along with the terms and conditions documents (available for download on the CVL-KRA website under the Regn. Docs link) and the following supporting documents (certified by the Designated / Whole Time Director(s) / Company Secretary along with seal / stamp of the Intermediary) to CDSL Ventures Limited (CVL) to secure a permanent registration: Copy of SEBI Registration Certificate Copy of PAN Card Name(s) of Designated / Whole Time Director(s) / Company Secretary along with their designation, Director Identification Number (DIN) / PAN and signature(s) on the letterhead of the Intermediary. Copy of the latest Balance Sheet The Registration Form and the supporting documents should be submitted (in person or by post / courier) to CVL. In case, a complete Registration Form along with the supporting documents is not received within the stipulated time period, then the Registration of the Intermediary will be disabled.

Presently, there would be a onetime charge for upload by the originating intermediary and download by subsequent intermediary. The charges will be reviewed periodically.

KRA would be providing a web based interface to the intermediaries through which they would be able to verify, download or upload information from/ to the KRA.

The procedure for KYC, as specified under SEBI Circular no. MIRSD/SE/CIR-21/2011, dated 5/10/11 would continue for Non-individual entities as well.

If the KYC is under process, the Intermediary can go ahead and open the account. However in case of any discrepancy or rejection, the onus is on the Intermediary to rectify the same.

All the KYC details, including signatures, which form part of the KYC form will be made available to the intermediary.

Any document which is valid at the time of submission to the Intermediary will be considered for KYC. The validity of the documents for the purpose of KYC would be as on date of acceptance by the Intermediary.

In case an intermediary uploads another KYC of an existing KYC compliant investor, the same will be rejected by the KRA system and the intermediary will have to download the KYC details of the client from the KRA.

An intermediary can register with one KRA or multiple KRAs However, an intermediary registered with one KRA will be able to determine whether a client is registered with any other KRA as there will be inter-operability between multiple KRAs.

No. An intermediary can register with any KRA of its choice for recording the KYC details of its clients. Registration is not limited to the KRA, which is a subsidiary of an exchange or a depository with whom the intermediary is already registered.

No. For an existing account opened on/before December 31, 2011, a separate KYC registration is not mandatory as per SEBI regulations. However, the same KYC can't be used by another intermediary if the investor chooses to do business through a different intermediary.