SEBI chairman Tuhin Kanta Pandey has said a unified know your customer framework across the financial system remains a top priority for the regulator, with C KYC 2.0 set to be launched by July as part of a broader push to simplify and strengthen customer verification.
Push for One Unified KYC Framework
Speaking at the IMC Capital Markets Conference, Pandey said the objective was to create one KYC architecture across the financial sector in line with the government’s One Nation, One KYC vision. The aim is to make onboarding seamless while preserving data integrity and ensuring a more secure system.
Pandey said the regulator wants a single KYC structure for the entire financial sector, but also pointed to authentication as the biggest challenge. Without reliable verification, he said, pooled data could become untrustworthy, underlining the need for tighter coordination among regulators to build a robust and interoperable framework.
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Government Backing Adds Urgency
The push for a unified KYC system follows remarks made last week by Finance Minister Nirmala Sitharaman at SEBI’s 38th Foundation Day celebration. She called for a seamless, secure and portable KYC experience across the financial sector so that citizens can have an improved experience of financial services.
She also said SEBI should help drive common KYC norms and the simplification and digitisation of KYC processes across the Indian securities market. Sitharaman said SEBI has the scale of investor participation, the depth of digital infrastructure and the institutional credibility among peer regulators to lead such an effort, while urging all regulators to move with a sense of urgency.
C KYC 2.0 Set for July Launch
To advance that objective, Pandey said SEBI is preparing C KYC 2.0 and that it will be launched by July. He described the proposed rollout as an opportunity to achieve the goal the system has been aspiring to for some time, namely a single C KYC infrastructure.
The reports do not elaborate on the technical features of the new system, but it makes clear that the planned launch is being positioned as a key step towards common KYC norms, easier onboarding and stronger interoperability across India’s financial sector.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
