Zerodha CEO welcomes SEBI decision to ease digital KYC for overseas investors
Nithin Kamath said the new rules will simplify account opening and help attract more long-term capital into India.
Zerodha founder and CEO Nithin Kamath has welcomed the Securities and Exchange Board of India (SEBI) decision to relax digital Know Your Client (KYC) norms for Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), and foreign nationals, according to a Mint report.
The revised framework, detailed in a circular dated November 4, 2026, allows these investors to complete digital onboarding while living abroad. This removes the previous requirement for investors to be physically present in India to complete the process.
The new rules will take effect on December 3, 2026, or 30 days from the circular date. The changes will apply to individual PROI clients, though they exclude those living in FATF non-compliant countries.
Kamath noted that previously, individuals requiring fresh KYC had to have documents attested by a notary or the Indian embassy and courier physical copies to India, a process that took weeks. He stated that from December 3, NRIs and OCIs in FATF-compliant countries can complete digital KYC from abroad in 2–3 days.
Kamath said that account opening had been a major hurdle for NRIs wanting to invest in India for years. He added that with this change, there is no reason for NRIs to go elsewhere to trade and invest.
The CEO also mentioned that making it easier for NRIs to invest is a simple way to attract more long-term capital into the country, as many already wish to invest but find the current process complicated.