New C-KYC 2.0 System Coming This July, Says Sebi Chief

Sebi C-KYC 2.0 Launch Date: The hassle of submitting the same identification documents multiple times may soon go away. Tuhin Kanta Pandey, chairman of the Securities and Exchange Board of India (Sebi), said creating a unified know-your-customer (KYC) framework across the financial system is a key priority for the regulator. He added that work is underway on C-KYC 2.0, which is expected to be launched by July this year.

Speaking at the IMC Capital Markets Conference, Pandey said, “What we really want is to have one KYC across the financial sector." The initiative aims to turn the “One Nation, One KYC” vision into reality. It will allow investors to use one verified identity across the financial sector, from stockbrokers to insurance companies.

However, the biggest challenge in creating a unified KYC system is authentication, Pandey noted. He warned that for a shared system to work, the initial verification must be strong and reliable. Without proper checks, a central pool of data could become “untrustworthy” and weaken the entire financial system.

To fix this, he said regulators need to work more closely together to build a strong system where different platforms can connect smoothly.