SEBI eases KYC norms for foreign investors, extends review cycle to eight years for eligible FPIs

The Securities and Exchange Board of India SEBI has relaxed Know Your Customer KYC requirements for foreign portfolio investors FPIs extending the review cycle to eight years for eligible investors and removing certain registration-related compliance requirements to reduce paperwork and promote ease of doing business the market regulator said in a circular Under the existing framework FPIs were required to undergo periodic KYC reviews every one or three years depending on their jurisdiction category and regulatory status However under the revised framework Category I FPIs from non-high-risk jurisdictions will undergo KYC reviews once every eight years