So far, the facility of sharing of KYC information was available only among Sebi-registered intermediaries.
KYC information of nearly 2 crore investors in the capital markets is available on the centralised KRA (KYC registration agency) system of Sebi.
"The entities, regulated by other regulators in the financial sector specified by the Board from time to time, may access the system of KRA for undertaking KYC of their clients who engage them for financial services," the Securities and Exchange Board of India (Sebi) said in a notification.
The new norms would be called as the 'Securities and Exchange Board of India KYC (Know Your Client) Registration Agency} (Second Amendment) Regulations, 2014'.
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Under the Sebi system, a client who has already done the KYC with any Sebi registered intermediary need not undergo the same process again when he approaches another intermediary.
Earlier, the market regulator had said that a common KYC process for the entire financial sector would help reduce the paper-work and bring down cost of operations for the investors as well as for the intermediaries.