The Securities and Exchange Board of India on 10th March 2021 has rolled out the Legal Entities Template which is made available by CERSAI in the Operationalization of Central KYC Records Registry (CKYCR)test environment (https://testbed.ckycindia.in/ckyc/index.php) enabling RIs to develop necessary infrastructure.
RIs (registered intermediaries) shall ensure that in case of LE accounts opened prior to April 1, 2021, the KYC records are uploaded on to CKYCR when the updated KYC information is obtained/received from the client. RIs shall ensure that during such receipt of updated information, the clients’ KYC details are migrated to current Client Due Diligence (CDD) standards.
Once KYC identifier is generated by CKYCR, the RIs would have ensure that the same is communicated to the legal entity.
The above provision shall not be applicable to Foreign Portfolio Investors (FPIs).