Bhubaneswar: Union Finance Minister Nirmala Sitharaman addressed the 38th Foundation Day of Securities and Exchange Board of India (SEBI) in Mumbai, emphasising the need to enhance citizens’ experience in accessing financial services.
Highlighting regulatory priorities, she called for the creation of a seamless, secure, and portable Know Your Customer (KYC) framework across the financial sector. The issue, she noted, has been discussed at meetings of the Financial Stability and Development Council (FSDC), reflecting its systemic importance.
The Finance Minister urged SEBI to take the lead in prescribing common KYC norms and driving the simplification and digitalisation of KYC processes across the securities market. She underlined that a unified KYC ecosystem would reduce duplication, improve efficiency, and enhance ease of doing business for investors.
Pointing to SEBI’s strong digital infrastructure, growing investor base, and institutional credibility, Sitharaman said the regulator is well-positioned to spearhead this transformation and set benchmarks for the broader financial ecosystem.
-OdishaAge
