On 20-02-2022, Securities and Exchange Board of India (‘SEBI') has issued guidelines on entities allowed to use e-KYC Aadhaar Authentication services of Unique Identification Authority of India (‘UIDAI') in Securities Market as sub- KYC User Agency (‘KUA') to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
On 13-07-2022, the Department of Revenue-Ministry of Finance, Government of India, notified 155 reporting entities as sub-KUA. SEBI has permitted 155 entities to enter into an agreement with KUA and get themselves registered with UIDAI. It is the duty of the KUA to facilitate these entities as sub- KUAs to provide the services of Aadhaar authentication with respect to KYC.