Have you ever received an SMS or email from CVLKRA and wondered what it is all about? If you’re an investor or trader, chances are that you’ve received similar communication. Allow me to shed some light on this topic and explain what KRA actually means.
According to SEBI Circular dated 6th April, 2022, point 11 -
“Client whose KYC record are not validated by KRA, will not be able to transact in the securities market.”
So what is KRA means?
KRA means KYC Registration Agency. KRA is registered with SEBI under the KYC Regulations Act of 2011. This agencies are responsible for maintaining the KYC records of the investors centrally.
These registration agencies maintain these records on behalf of the Capital Market intermediaries such as AMC, stock brokers etc.
This KYC information can be accessed by all the SEBI Registered Intermediaries while dealing with the same client. As a result, once the client has done KYC with a SEBI registered intermediary, he/she need not undergo the same process again with another intermediary.
There are 6 different agencies that SEBI has assigned the task of doing KYC.
- CVL KRA
- NDML KRA
- DOTEX KRA
- CAMS KRA
- KARVY KRA
- BSE KRA
One of the agency is CVL(CDSL Venture Limited) which is a subsidiary of CDSL and they sent this SMS and emails to customers.
To know whether your KYC has been done or not, you can go to any of these KRA’s website.
You can also check here⤵️