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05 Jul 2012 10:41 AM
CAMS gets KYC Registration Agency license from SEBI 
Team Cafemutual
 

CAMS KRA is the fourth player to get SEBI license for KYC Registration Agency (KRA)

CAMS KYC Registration Agency (KRA), a wholly-owned subsidiary of CAMS has received SEBI approval to operate as a KRA, confirms an official from CAMS.

The common KYC process came into effect from January 1, 2012 with KRAs being appointed to facilitate the smooth flow of data across intermediaries. 

SEBI has permitted NDML (NSDL Database Management Ltd), a wholly-owned subsidiary of National Securities Depository Limited (NSDL), and CDSL Ventures Ltd. (CVL) and DotEx International, a wholly owned subsidiary of NSE, to function as KRAs.

“At this point of time we are going to leverage our engagement with the mutual fund industry. We will integrate KRA services to the fund industry through our Pan-India network. The revenue model will be same as what depositories have implemented. The customers will not have to bear any charges. CAMS will provide its edge in technology and customer service since. We don’t have any conflicting business,” says N K Prasad, President & CEO, CAMS.

SEBI grants registration certificate to KRAs for a period of five years which can be renewed.  A KRA has to have a net worth of Rs 25 crore on a continuous basis.

Also Read:

SEBI appoints CVL as KYC Registration Agency

NDML receives in-principle approval from SEBI as KYC Registration Agency 

 
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