Uniform KYC: India’s Push for a Centralised System Towards One Nation, One KYC

Category: Market Update

In a significant move to simplify and unify Know Your Customer (KYC) norms across India’s financial ecosystem, the Modi 3.0 government is taking concrete steps to roll out a uniform KYC framework. This initiative is aimed at streamlining access to financial services and improving customer convenience, while also reducing redundancy and strengthening security.

A High-Level Meeting to Accelerate KYC Reform

A key meeting was recently chaired by M Nagaraju, Secretary of the Department of Financial Services (DFS), in New Delhi. The gathering brought together senior officials from various regulatory bodies, including the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), and Pension Fund Regulatory and Development Authority (PFRDA), as well as stakeholders from financial institutions.

The primary agenda was to assess the status of the Central KYC Records Registry (CKYCR) and explore pathways to implement a standardised and modernised KYC process across all financial services.

Objectives of a Uniform KYC Framework

The government envisions a unified KYC system that will ease the experience for individuals when accessing financial services, such as opening a bank account, purchasing insurance policies, or investing in mutual funds. By standardising and modernising the KYC process, the aim is to minimise repetitive verifications and documentation across platforms.

During the meeting, Nagaraju underscored the importance of upgrading the CKYCR infrastructure and improving the interoperability of KYC data across different segments of the financial sector.

Discussion Points and Regulatory Involvement

The officials engaged in a comprehensive discussion around the existing challenges and hurdles faced by individuals and regulated entities. Some of the key issues raised included:

  • Redundancy in documentation for different financial products
  • Security and privacy concerns regarding KYC data
  • Delays in verification and data updating
  • Lack of real-time data sharing between regulators and financial institutions

Participants also reviewed the measures already implemented by the government and regulators to streamline KYC processes and suggested potential improvements to enhance efficiency and coordination.

Revamp of the Central KYC Registry

The government has committed to revamping the Central KYC Registry (CKYC Registry) as part of its Budget 2025 proposal. Finance Minister Nirmala Sitharaman had previously announced that the modernised CKYCR system will be introduced in 2025, alongside a new framework for periodic updates to customer KYC records.

The CKYC Registry is designed to serve as a centralised repository of KYC records for individuals availing of various financial services. It allows mutual funds, insurance companies, stockbrokers, banks, and SEBI-registered investment advisers to verify and retrieve customer data from a single source.

Current Status and Future Possibilities

At present, KYC details verified by SEBI, IRDAI, and PFRDA are being uploaded to the CKYCR system. This opens the possibility for cross-utilisation of KYC records—such as a mutual fund distributor accessing KYC data verified by an insurance company.

However, banks have not yet begun uploading their customer KYC data to the registry. If banks were to integrate their data with CKYCR, it could pave the way for individuals to use a single bank account verification to access a wide array of financial services—eliminating the need to complete separate KYC processes for each service.

Conclusion

The push for a uniform KYC system is a significant milestone in India’s journey toward improving financial inclusion and operational efficiency in the financial sector. By harmonising KYC norms and enabling data-sharing across regulators and service providers, the government seeks to create a more seamless and secure experience for both customers and institutions.

While several challenges remain, the momentum behind the initiative signals a serious commitment to reform. As the 2025 deadline approaches, stakeholders across the ecosystem will be closely watching the progress of this ambitious transformation.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Top 3 Contra and Value Mutual Funds That Delivered Up to 37% Returns

In the diverse landscape of equity mutual funds, value and contra funds stand out for their unique investment approaches. Unlike growth funds, which chase high-performing momentum stocks, value and contra funds focus on identifying opportunities in overlooked or undervalued segments of the market.

Top 3 Contra/Value Mutual Funds Based on 5-Year Performance

The following schemes have emerged as strong performers in the contra/value category, delivering impressive annualised returns over a 5-year horizon. 

Mutual Fund Scheme Fund Manager AUM(in ₹  crore) Expense Ratio (%) NAV in ₹ Return (%)5 yrs
SBI Contra Fund Dinesh Balachandran 39,589.7 1.54 358.63 37.22
Bandhan Sterling Value Fund Daylynn Pinto 8,995.8 1.77 137.24 36.78
Templeton India Value Fund Ajay Argal 1,978.8 2.09 661.47 33.82

Note: NAV and Returns as of April 3, 2025, and all are regular funds. 

Regulatory Note

As per SEBI’s mutual fund categorisation norms, an asset management company (AMC) can offer either a Contra Fund or a Value Fund, but not both. This distinction ensures clarity and consistency in investment strategies across fund houses.

Conclusion 

While these funds have demonstrated strong performance, investors should carefully consider factors such as expense ratios and the fund’s asset under management (AUM) alongside their own risk tolerance and investment goals.

As always, it’s essential to align any investment decision with your individual financial goals, time horizon, and risk tolerance.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

GR Infraprojects Wins ₹106 Crore Arbitration Victory Over Bihar Highway Project

G R Infraprojects Limited (GRIL) has won an arbitration case against the Chief Engineer, NH (S) Wing & Road Construction Department, Government of Bihar. The dispute arose over claims related to the construction of a two-lane highway with a paved shoulder on the Bhagalpur Bypass in Bihar. The Arbitral Tribunal ruled in favour of GRIL, awarding significant financial compensation.

Arbitration Award and Details

The Arbitral Tribunal delivered its decision on 2nd April 2025, granting GRIL ₹106.45 crore as compensation plus future interest on the aforesaid amount at the rate of 12% per annum from the date of this award till the date of realisation. The claims were raised due to project-related disputes under the Engineering, Procurement, and Construction (EPC) contract.

Financial Impact

Despite the large sum awarded, GRIL has confirmed that the ruling will have no negative impact on its financial position. This suggests that the compensation either covers previous costs or strengthens the company’s financial standing. Such rulings highlight the importance of legal enforcement in infrastructure contracts.

GR Infraprojects Share Performance 

As of April 04 2025, at 9:50 AM, GR Infraprojects share price was trading at ₹1,065.05 reflecting a decline of 1.23% from its previous closing price. Over the past month, it has surged by 9.11%.

Conclusion

The tribunal’s decision reinforces the significance of fair contract enforcement in public infrastructure projects. With the awarded compensation, GRIL ensures its claims are settled while maintaining financial stability.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Surya Roshni Share Price in Focus on ₹116.15 Crore Order from GAIL India

On April 3, 2025, Surya Roshni Limited announced that it has secured an order worth ₹116.15 crore (inclusive of GST) from GAIL India Limited. The disclosure was made through an exchange filing in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

As of 10:30 AM on April 4, 2025, Surya Roshni share price was trading at ₹255.78, while GAIL (India) share price was at ₹178.70.

Scope of the Order

The order involves the supply of High-Frequency Welded (HFW) coated pipes. Specifically, the order includes HFW pipes of dimensions 355.60 mm outer diameter with wall thicknesses of 8.7 mm and 10.3 mm. These pipes are to be manufactured to Grade X-70, PSL-2 standards.

The total time allotted for the execution of the order is 39 weeks. Delivery and completion of the order will occur within this specified period. The contract is classified as a domestic order. There is no international component involved in the agreement.

Project Locations

The pipes will be used for projects located in Madhya Pradesh and Uttar Pradesh. Both states are within India, making the order a domestic contract.

The customer awarding the contract is GAIL India Limited, a public sector undertaking (PSU). The order is for the supply of coated pipes and does not involve any services outside of product delivery.

Promoter and Related Party Disclosure

The company has confirmed that neither the promoter nor the promoter group has any interest in GAIL India Limited. Additionally, the transaction does not fall under the category of related party transactions.

Conclusion

The ₹116.15 crore order from GAIL India involves the supply of coated pipes over a 39-week timeline for domestic infrastructure projects. The contract is not a related party transaction and is fully domestic in nature.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

SBI, Citi to Provide $295 Million Social Loan for Indian Small Farmers

In a significant move to strengthen financial support for India’s agricultural sector, Citi and the State Bank of India (SBI) have announced a social loan facility worth $295 million. The initiative aims to provide much-needed credit to small and marginal farmers, enhancing their agricultural productivity and income. The loan, facilitated by Citi’s Trade & Working Capital Solutions, will be channelled through SBI’s Kisan Credit Card loan portfolio to ensure widespread access to credit in rural areas.

Enhancing Financial Access for Farmers

The social loan facility will enable SBI to finance its Kisan Credit Card loan portfolio, ensuring that farmers with small landholdings receive essential credit. This initiative aligns with the government’s broader vision of financial inclusion in the agricultural sector, empowering farmers with the necessary funds to invest in better farming practices and resources. By leveraging Citi’s expertise in trade and working capital solutions, this collaboration aims to create a significant social and economic impact.

Innovation in Trade Finance for Social Impact

Citi’s approach to trade finance has been centred around innovation, and this partnership exemplifies how financial solutions can drive positive change. Mayank Gupta, Asia South head of Citi’s Trade & Working Capital Solutions, highlighted the importance of this agreement in unlocking economic growth through innovative financing. SBI’s deputy managing director, Jayati Bansal, emphasised the bank’s commitment to financial inclusion, stating that the collaboration would help reach small and marginal farmers who often struggle to access credit.

SBI Share Performance 

As of April 04 2025, at 10:10 AM, SBI share price was trading at ₹774.75 reflecting a decline of 0.57% from its previous closing price. Over the past month, it has surged by 8.20%.

Conclusion

The Citi-SBI partnership marks a crucial step towards strengthening financial accessibility in India’s agricultural sector. By facilitating credit for small farmers, this social loan initiative not only supports economic growth but also fosters sustainable agricultural development. Through this collaboration, both institutions reinforce their commitment to financial inclusion and rural empowerment.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Union Government Disburses ₹1,440 Crore Grants to Strengthen Rural Development

In a significant push towards rural development, the Union Government of India has disbursed over ₹1,440 crore in grants under the 15th Finance Commission (XV-FC) to Rural Local Bodies (RLBs) and Panchayati Raj Institutions (PRIs) across five states. These funds aim to empower grassroots governance and improve basic infrastructure and service delivery in rural India.

States Receiving XV-FC Grants

The grants were distributed to Arunachal Pradesh, Gujarat, Madhya Pradesh, Nagaland, and Punjab during the financial year 2024–25. The Ministry of Finance released the funds in accordance with the recommendations of the Ministry of Panchayati Raj and the Ministry of Jal Shakti (Department of Drinking Water and Sanitation).

State Amount Allocated in ₹ Coverage
Madhya Pradesh 651.7794 crore (1st instalment, untied grant) 52 District Panchayats, 309 Block Panchayats, 22,995 Gram Panchayats
Gujarat 508.6011 crore (1st instalment, untied grant) 27 District Panchayats, 242 Block Panchayats, 14,469 Gram Panchayats
Punjab 225.975 crore (2nd instalment, untied grant) 22 Zila Parishads, 149 Block Panchayats, 13,152 Gram Panchayats
Arunachal Pradesh 35.40 crore (1st instalment, untied grant for FY 2022-23) All eligible RLBs in the state
Nagaland 19.20 crore (1st instalment, untied grant for FY 2022-23) All eligible RLBs in the state

Purpose and Utilisation of XV-FC Grants

Untied Grants

Untied grants offer flexibility to the local bodies to address location-specific requirements. These may include works related to any of the 29 subjects listed in the Eleventh Schedule of the Constitution. However, they cannot be used for salary or establishment expenses. This autonomy allows local bodies to prioritise projects based on immediate community needs.

Tied Grants

While untied grants give leeway in utilisation, tied grants are earmarked for specific sectors, namely:

  • Sanitation: Includes maintaining Open Defecation Free (ODF) status, and proper management of household waste, human excreta, and faecal sludge.
  • Drinking Water and Water Management: This encompasses rainwater harvesting, water recycling, and the provision of safe drinking water.

Strengthening Rural Governance

The disbursement of these funds reiterates the Union Government’s focus on decentralisation and community-led governance. By financially empowering local bodies, the aim is to facilitate responsive planning, efficient execution, and improved service delivery in rural regions. The strategic timing of these grants ensures uninterrupted development work across panchayats.

Conclusion

The XV-Finance Commission grants are a crucial tool for enabling rural transformation through empowered local governance. While the amounts vary by state and instalment, the broader vision remains consistent: to uplift rural infrastructure and enhance quality of life through decentralised planning and execution.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Thermax Limited Sells Stake in Covacsis Technologies for ₹10 Crore

Thermax Limited has officially announced the sale of its stake in Covacsis Technologies Private Limited. This transaction, completed through a Share Purchase Agreement with Infinite Uptime Inc., USA, results in Covacsis ceasing to be an associate company of Thermax. The sale, executed under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, signifies a strategic decision by the company.

Details of the Transaction

As per the disclosure made to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), the agreement for the sale was signed on 3rd April 2025, with the transaction set for completion on 4th April 2025. The stake was sold for approximately ₹10 crores, and Covacsis had incurred a loss of ₹1.79 crores in FY 2023-24, of which ₹0.30 crores was consolidated into Thermax’s financials. The transaction does not fall under related party transactions, and the buyer is not associated with Thermax’s promoter group.

Regulatory Compliance and Business Impact

Thermax Limited has ensured full compliance with SEBI’s regulatory framework, particularly Regulation 30 of the SEBI (LODR) Regulations, 2015. The sale does not involve a slump sale or a Scheme of Arrangement. By divesting its stake in Covacsis, Thermax aims to realign its investment strategy, focusing on core business areas. This move reflects the company’s intent to streamline operations and optimise financial performance.

Thermax Share Performance 

As of April 04 2025, at 9:50 AM, Thermax share price was trading at ₹3,475.40, reflecting a decline of 2.09% from its previous closing price. Over the past month, it has surged by 8.46%.

Conclusion

The sale of Thermax Limited’s stake in Covacsis Technologies marks a significant corporate development. By executing this transaction, Thermax has restructured its investment portfolio while maintaining compliance with SEBI’s regulations. The move highlights the company’s strategic focus on financial prudence and operational efficiency.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

UltraTech Cement to Acquire 100% Equity of Wonder WallCare in ₹235 Crore Deal

UltraTech Cement Ltd., on April 3, 2025, announced the acquisition of 100% equity in Wonder WallCare Pvt. Ltd. The transaction is valued at an enterprise value not exceeding ₹235 crore. UltraTech will acquire 6,42,40,000 equity shares of ₹10 each through a cash consideration, and the deal is expected to close within three months.

As of 10:42 AM on April 4, 2025, UltraTech Cement share price was trading at ₹11,485.05, a 1.05% down, with a gain of 11.81% over the past month and 15.89% over the past year.

Share Purchase Agreement

The company has signed a Share Purchase Agreement (SPA) with Wonder Cement Ltd., the parent company of Wonder WallCare, and Mr. Kushal Sogani, who held a 25% stake. After completion, Wonder WallCare will become a wholly-owned subsidiary of UltraTech Cement.

Purpose of Acquisition

According to UltraTech, the acquisition supports its expansion plans in the white cement and wall putty segment. The company intends to scale up its production of value-added products in this category.

Regulatory and Transaction Details

  • The acquisition is not classified as a related-party transaction.
  • No regulatory approvals are required.
  • The entire consideration will be paid in cash.

About Wonder WallCare Pvt. Ltd.

Wonder WallCare was incorporated on December 13, 2019. It operates in the manufacture of wall putty and related products. The company is based in Ajmer, Rajasthan. The turnover of Wonder WallCare has grown over the last three years:

FY22: ₹0 crore  

FY23: ₹20.36 crore  

FY24: ₹78.61 crore  

Manufacturing Facility

Wonder WallCare has a 6 lakh metric tonnes per annum (MTPA) manufacturing plant located in Rajsamand-Nathdwara, Rajasthan. The facility was constructed during FY23 and is located near raw material reserves and UltraTech’s existing manufacturing units in the region.

Conclusion

The transaction will help expand UltraTech’s presence in the wall putty segment and add a new manufacturing asset to its portfolio.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Zomato to Trade as ‘Eternal’ on Stock Exchanges Starting April 9, 2025

Zomato, the food delivery company, will officially change its name to Eternal Limited on April 9, 2025, as per the reports. This change applies to the company’s listing on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The updated symbol on both exchanges will be ETERNAL, replacing the current ticker ZOMATO.

As of 10:14 AM on April 4, 2025, Zomato share price is trading at ₹206.50, down by 2.09%, with a decline of 23.36% over the past 6 months and a gain of 12.83% in the past year.

Impact on Website and Ticker

Following the change, the company’s corporate website will move from zomato.com to eternal.com. The stock symbol will be updated on both exchanges from ZOMATO to ETERNAL. Investors and market participants will need to refer to the new name and ticker beginning next week.

The name change was approved by the Ministry of Corporate Affairs (MCA) and confirmed through an official filing dated March 20, 2025. The NSE also issued a circular on April 3, 2025, stating that the change will take effect from April 9​.

No Change to Consumer Brands

The name change applies only to the corporate identity. There will be no change to the brand names or app interfaces used by consumers. Zomato, Blinkit, Hyperpure, and District will continue operating under their current names.

Business Structure

The newly named Eternal Limited will continue to operate across its four main business verticals:

  • Zomato – food delivery
  • Blinkit – quick commerce
  • Hyperpure – B2B restaurant supply
  • District – dining out and restaurant services

Conclusion

Effective April 9, 2025, Zomato Limited will be known as Eternal Limited on the NSE and BSE. While the food may still come from Zomato, the vision now wears a new name. Whether the rebrand adds value beyond symbolism will unfold in the quarters ahead.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Nestle Invests ₹900 Crore in New Odisha Factory, Marking Eastern India Expansion”

Nestle India has taken a significant step in expanding its manufacturing footprint with the establishment of its first factory in eastern India. The foundation stone for the new facility was laid in Khordha, Odisha, in the presence of the Hon’ble Chief Minister of Odisha, Shri Mohan Charan Majhi. This factory, Nestle India’s tenth in the country, represents a crucial milestone in the company’s commitment to the ‘Make in India’ initiative and its ongoing efforts towards sustainable and technologically advanced manufacturing.

Strategic Importance of the Khordha Factory

The Khordha factory is set to play a vital role in Nestle India’s expansion plans. With an initial investment of approximately ₹900 crores, the facility will focus on producing food products, including prepared dishes and cooking aids. The strategic choice of Odisha as a location not only enhances Nestlé’s reach in eastern India but also aligns with the region’s growing industrial potential.

 

During the groundbreaking ceremony, Shri Mohan Charan Majhi expressed his support for the project, highlighting its potential to drive economic growth and employment in the region. The factory is expected to bring in advanced technology, boost local industry, and provide a sustainable, digitally managed, and paperless manufacturing environment.

Commitment to Sustainability and Diversity

“With a steadfast adherence to ‘Make in India,’ we had announced our tenth factory in Odisha, reaffirming the significance of India as a market,” said Suresh Narayanan, Chairman and Managing Director, Nestlé India. “We are confident that this upcoming factory will not only help us with our business but will also stand tall as a vibrant example of gender diversity, sustainable manufacturing, a paperless, digitally managed facility with an abiding focus on the environment.”

 

Nestlé India has a wide network of manufacturing plants located in various regions of India, including Moga, Choladi, and Pantnagar, and is further extending its presence with a new factory in Khordha, highlighting their commitment to nationwide consumer reach.

 

Moreover, Nestle India aims to make this factory an inclusive workplace, fostering gender diversity and providing employment opportunities for a broader workforce. This move reflects the company’s long-term vision of creating sustainable growth while making a positive social impact.

Nestle India Share Performance 

As of April 04 2025, at 9:50 AM, Nestle India share price was trading at ₹2,262.35, reflecting a surge of 0.74% from its previous closing price. Over the past month, it has surged by 5.40%.

Conclusion

The establishment of Nestle India’s first factory in eastern India marks a major step forward in the company’s expansion strategy. By integrating cutting-edge technology, sustainability, and inclusivity, Nestle India is reinforcing its position as a leader in the food manufacturing industry. The Khordha facility is set to contribute significantly to economic development while setting new benchmarks for modern and responsible manufacturing.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.