RBI Eases KYC Rules For FPIs, Overseas Certification Now Allowed
New Delhi: The Reserve Bank of India has simplified Know Your Customer compliance for foreign portfolio investors by permitting Indian banks to accept original certified copies of specified documents verified by authorised officials overseas. The relaxation, introduced through the RBI (Commercial Banks–Know Your Customer) Amendment Directions, 2026, took effect immediately. It extends to FPIs a…
The Reserve Bank of India has made it simpler for foreign portfolio investors to comply with Know Your Customer regulations. The RBI's latest amendment to its Commercial Banks–Know Your Customer Directions, 2026, allows Indian banks to accept original certified copies of specified documents, verified by officials overseas. This change took effect immediately and applies to FPIs who previously received a similar concession as Non-Resident Indians and persons of Indian origin.
Overseas authorities can now certify the documents, including branches of Indian scheduled commercial banks, foreign banks with ties to Indian banks, and recognized authorities such as a Notary Public, Court Magistrate, Judge, Indian Embassy, or Consulate General. Despite these relaxed regulations, banks must still verify the authenticity of the submitted certified copies by comparing them with the original official documents.
The move aims to streamline account-related compliance for foreign investors engaging with Indian financial markets.
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