CAMS KRA is the fourth player to get SEBI license
Registrar CAMS launched its CAMS KYC Registration Agency (KRA) yesterday in Mumbai in the presence of SEBI chairman U K Sinha and Whole Time Member of SEBI, R K Agarwal.
“This is going to bring about harmonious standardisation across the KYC process followed by various intermediaries,” said N K Prasad, President and CEO, CAMS.
CAMS is the fourth KRA player to get SEBI’s nod. SEBI is also in consultation with other regulators and the government to have a single KYC across the financial sector. “SEBI has initiated a dialogue with all the regulators in this regard. The government has recently set up a committee to evaluate how a single KYC is going to help the entire financial sector. It might take some more time. All the regulators have welcomed the idea at the first stage,” U K Sinha told reporters.
All the KRAs will be interoperable. The three others KRAs who have received SEBI approval are CDSL Ventures Ltd (CVL), DotEx International Limited (DotEx) and NSDL Database Management Ltd (NDML).
“The three KRAs have already uploaded records to the extent of approximately 1.25 crore,” said R K Agarwal, Whole Time Member, SEBI.
SEBI brought in common KYC norms for all SEBI registered intermediaries from January 2012. KRAs will help eliminate duplication of KYC across all SEBI registered intermediaries.
