The Hon’ble Supreme Court’s recent judgment in Pragya Prasun vs Union Of India (W.P.(C) No. 289/2024 ) has reinforced the importance of equal access to financial services for persons with disabilities whereby it was held that it was State’s obligation under Article 21 to ‘𝘦𝘯𝘴𝘶𝘳𝘦 𝘵𝘩𝘢𝘵 𝘥𝘪𝘨𝘪𝘵𝘢𝘭 𝘪𝘯𝘧𝘳𝘢𝘴𝘵𝘳𝘶𝘤𝘵𝘶𝘳𝘦, 𝘨𝘰𝘷𝘦𝘳𝘯𝘮𝘦𝘯𝘵 𝘱𝘰𝘳𝘵𝘢𝘭𝘴, 𝘰𝘯𝘭𝘪𝘯𝘦 𝘭𝘦𝘢𝘳𝘯𝘪𝘯𝘨 𝘱𝘭𝘢𝘵𝘧𝘰𝘳𝘮𝘴, 𝘢𝘯𝘥 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘵𝘦𝘤𝘩𝘯𝘰𝘭𝘰𝘨𝘪𝘦𝘴 𝘢𝘳𝘦 𝘶𝘯𝘪𝘷𝘦𝘳𝘴𝘢𝘭𝘭𝘺 𝘢𝘤𝘤𝘦𝘴𝘴𝘪𝘣𝘭𝘦, 𝘪𝘯𝘤𝘭𝘶𝘴𝘪𝘷𝘦 𝘢𝘯𝘥 𝘳𝘦𝘴𝘱𝘰𝘯𝘴𝘪𝘷𝘦 𝘵𝘰 𝘵𝘩𝘦 𝘯𝘦𝘦𝘥𝘴 𝘰𝘧 𝘢𝘭𝘭 𝘷𝘶𝘭𝘯𝘦𝘳𝘢𝘣𝘭𝘦 𝘢𝘯𝘥 𝘮𝘢𝘳𝘨𝘪𝘯𝘢𝘭𝘪𝘻𝘦𝘥 𝘱𝘰𝘱𝘶𝘭𝘢𝘵𝘪𝘰𝘯𝘴’. In response, SEBI has issued a circular mandating all registered intermediaries to ensure their digital KYC processes are fully accessible and inclusive and revised the Frequently Asked Questions (FAQs) pertaining to account opening by persons with disabilities.
The updated FAQs can be accessed at https://lnkd.in/dtabgXyw
A copy of the circular is enclosed.
This is a crucial step in mainstreaming accessibility in the securities market ecosystem, and underscores the regulator’s continued commitment to protecting investor rights and promoting equitable access.