🔹Allow overseas verification for new stock trading & mutual fund accounts. Currently GPS must show you’re physically in India to open an account digitally. A simple tweak for NRIs in low-risk countries would fix this. GIFT City already does it for 8 countries plus most of the EU.
🔹 Make KYC portable across intermediaries
Verify once, but you need to redo it every time you switch brokers or fund houses. One portable KYC record would solve this entirely.
🔹 Bridge the GIFT City and mainland KYC systems
Two systems that don’t talk to each other means double the paperwork. A data-sharing bridge is all it will take
🔹Let NRIs sign documents via video call instead of Aadhaar OTP
Many NRIs don’t have Aadhaar or can’t access their old Indian number. Letting them hold up a wet signature on a video call would remove this barrier overnight.
🔹Ease notarization requirements
Getting documents notarized from abroad is slow and expensive. Recognising a flow with digital notarization and e-sign would remove one of the biggest real-world hurdles to paperless onboarding.
🔹 Officially greenlight fully digital onboarding for NRIs
The framework already exists. Regulators just need to say yes.
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