References & Sources
This page lists all external sources, vendor documentation, regulatory portals, and public references that informed this specification. All content in this documentation is based on publicly available information accessible on the internet.
Government & Regulatory Bodies
Section titled “Government & Regulatory Bodies”These are official government and regulatory portals whose publicly available circulars, guidelines, and API documentation were referenced.
SEBI (Securities and Exchange Board of India)
Section titled “SEBI (Securities and Exchange Board of India)”| Circular / Regulation | Reference Number | Official Link |
|---|---|---|
| KYC Master Circular | SEBI/HO/MIRSD/MIRSD-SEC-2/P/CIR/2023/168 (Oct 2023) | sebi.gov.in |
| KYC Process & Technology | SEBI/HO/MIRSD/DOP/CIR/P/2020/73 (Apr 2020) | sebi.gov.in |
| KYC Simplification at KRAs | SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 (Aug 2023) | sebi.gov.in |
| PAN-Aadhaar Linking Relaxation | SEBI/HO/MIRSD/SECFATF/P/CIR/2024/41 (May 2024) | — |
| KRA Upload to CKYC | SEBI/HO/MIRSD/SECFATF/P/CIR/2024/79 (Jun 2024) | sebi.gov.in |
| FATCA/CRS Centralization at KRAs | SEBI/HO/MIRSD/SECFATF/P/CIR/2024/12 (Feb 2024) | sebi.gov.in |
| AML/CFT Guidelines | SEBI/HO/MIRSD/SECFATF/P/CIR/2024/78 (Jun 2024) | — |
| Stock Brokers Master Circular | SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/90 (Jun 2025) | — |
| Stock Brokers Regulations 2026 | SEBI/LAD-NRO/GN/2026/291 (Jan 7, 2026) | sebi.gov.in |
| DDPI Circular | SEBI/HO/MIRSD/DoP/P/CIR/2022/44 (Apr 2022) | — |
| Nomination Revamp | SEBI circular (Jan 10, 2025) | sebi.gov.in |
| Nomination Amendments | SEBI circular (Feb 28, 2025) | sebi.gov.in |
| DigiLocker for Holdings | SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2025/32 (Mar 2025) | sebi.gov.in |
| UPI Block Mechanism (Consultation) | SEBI consultation paper (Aug 2024) | sebi.gov.in |
| T+0 Settlement | SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/20 (Mar 2024) | sebi.gov.in |
| T+0 Expansion | SEBI circular (Dec 2024) | sebi.gov.in |
| Client Fund Upstreaming | SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 (Jun 2023) | — |
| AA for Depositories | SEBI/HO/MRD/DCAP/P/CIR/2022/110 (Aug 2022) | — |
| ODR Master Circular | SEBI ODR Master Circular (Dec 2023) | sebi.gov.in |
| UCC-Demat Mapping | SEBI/HO/MIRSD/DOP/CIR/P/2019/136 (Nov 2019) | — |
| KYC Onboarding Consultation Paper | SEBI consultation (Jan 16, 2026) | sebi.gov.in |
| KYC FAQs | SEBI FAQ on KYC Norms (May 2024) | sebi.gov.in |
RBI (Reserve Bank of India)
Section titled “RBI (Reserve Bank of India)”- RBI Master Directions — All master directions
- Account Aggregator Master Direction — RBI/DNBR/2016-17/46 (Sep 2016, updated Sep 2024)
- RBI/2023-2024/88 (Dec 2023) — UPI AutoPay limit increase to Rs 1 lakh for MCC 6211
- RBI e-mandate framework — Recurring payment regulations
NPCI (National Payments Corporation of India)
Section titled “NPCI (National Payments Corporation of India)”- NPCI UPI Circulars — All UPI operating circulars
- UPI AutoPay Enhancement (OC-151A) — Rs 1 lakh limit for securities brokers
- e-KYC Setu System — Aadhaar e-KYC without AUA/KUA license
MeitY & Data Protection
Section titled “MeitY & Data Protection”- DPDP Act 2023 (Full Text) — Digital Personal Data Protection Act
- DPDP Rules 2025 (Gazette) — Operationalization rules
- DPDP Compliance Guide — Comprehensive reference
DigiLocker (Government of India)
Section titled “DigiLocker (Government of India)”- DigiLocker Portal — Official DigiLocker service
- DigiLocker API Documentation — Public partner API specification
- DigiLocker Sandbox — Testing environment
- DigiLocker Partner Portal — Partner onboarding
- API Setu - DigiLocker — Government API gateway
CERSAI / CKYC (Central KYC Registry)
Section titled “CERSAI / CKYC (Central KYC Registry)”- CKYC Portal (CERSAI) — Central KYC Registry
- CKYC via Protean — CKYC services via Protean (formerly NSDL e-Governance)
UIDAI (Unique Identification Authority of India)
Section titled “UIDAI (Unique Identification Authority of India)”- UIDAI Portal — Aadhaar authentication and e-KYC specifications
- Biometric Devices — Certified device specifications
Income Tax Department
Section titled “Income Tax Department”- Income Tax Portal — PAN verification and ITR standards
- API Specifications — Official API specs
Account Aggregator Ecosystem
Section titled “Account Aggregator Ecosystem”- Sahamati — AA ecosystem industry body
- Account Aggregators List — 14 operating AAs
- FIPs & FIUs — 90+ FIPs, 600+ entities
- Certified Entities — Certified participants registry
- AA Ecosystem Map (Mar 2025) — Latest ecosystem map
- FIU India — Financial Information Users portal
- DFS AA Framework — Government overview
Vendor Documentation
Section titled “Vendor Documentation”The following vendor documentation portals and API references were consulted. All are publicly accessible.
Decentro
Section titled “Decentro”- Decentro Documentation — API reference and integration guides
- KYC Verification Services
- Customer Verification
- CKYC Services
- Bank Account Validation API
- CKYC Search API
- CKYC Download API
- CKYC Upload API
- Production:
https://in.decentro.tech/v2| Sandbox:https://in.staging.decentro.tech/v2
HyperVerge
Section titled “HyperVerge”- HyperVerge Website — Identity verification platform
- HyperVerge Dashboard
- SEBI Nomination Rules Blog — Analysis of 2025 nomination changes
- KYC India REST API (GitHub) — Public API documentation
- HyperKYC Android SDK (GitHub) — Mobile SDK
- Production:
https://ind-docs.hyperverge.co/v2.0|https://ind-faceid.hyperverge.co/v1
- Digio Documentation — eSign, KYC, and DigiLocker APIs
- Aadhaar Offline API
- DigiLocker Integration
- KRA API Integration
- CKYC API Integration
- Android SDK
- Gateway KYC Lite (GitHub) — Sample integration
- iOS KYC SDK (GitHub) — iOS SDK
Leegality
Section titled “Leegality”- Leegality Website — eSign and digital documentation
- Stock Brokers Solutions — Broker-specific features
- SEBI DDPI Blog — DDPI analysis
- SEBI eKYC Blog — eKYC notification analysis
- Digital Stamping — Stamp paper integration
- Leegality Documentation — API reference
- Knowledge Base — Help articles
- Support Portal
- Sandbox — Testing environment
- Document Verifier — Signature verification
- API Docs (GitHub) — API specification
Setu (by Pine Labs)
Section titled “Setu (by Pine Labs)”- Setu Website — Fintech infrastructure platform
- Setu Developer Documentation — All product docs
- Reverse Penny Drop Quickstart — Bank account validation
- Reverse Penny Drop API — API integration guide
- Setu FIU APIs (Postman) — Account Aggregator FIU APIs
- Setu Docs (GitHub) — Open-source documentation
- Pine Labs Developer Portal — Parent company APIs
- Pine Labs AA Gateway — Account Aggregator product
Signzy
Section titled “Signzy”- Signzy Website — Identity verification and compliance platform
- API Marketplace — KYC, KYB verification APIs
- Video KYC Documentation — VKYC integration overview
- Video KYC Solution — Product page
- Video KYC India Guide — RBI guidelines analysis
- KYC Providers Comparison — India market overview
Bureau.id
Section titled “Bureau.id”- Bureau.id Website — Fraud prevention and device intelligence
- Device ID Product — 99.7% persistence device fingerprinting
- Fraud SDK (GitHub) — Device fingerprint SDK
- API endpoints: Production
https://api.bureau.id/v1/| Sandboxhttps://api.sandbox.bureau.id/v1/
TrackWizz
Section titled “TrackWizz”- Referenced for AML/PEP/Sanctions screening capabilities
- Publicly available product information
Perfios
Section titled “Perfios”- Perfios Website — Digital onboarding, underwriting, risk assessment
- KYC & KYB Solutions — Verification products
- PAN Verification API — Real-time PAN verification
- ITR Analyser — Automated ITR analysis
- Document Analysers — Tax statement analysis
Protean eGov (formerly NSDL e-Governance)
Section titled “Protean eGov (formerly NSDL e-Governance)”- Protean Website — Digital public infrastructure
- e-KYC Services — PAN e-KYC services
- PAN Services — PAN issuance and management
- Online PAN Verification — OPV for authorized entities
- PAN Verification API (PDF) — Technical integration document
- Developer Documentation — API documentation
- API Catalogue — Integration catalogue
Exchange Portals
Section titled “Exchange Portals”NSE (National Stock Exchange of India)
Section titled “NSE (National Stock Exchange of India)”- NSE India — Official portal
- NSE Circulars — Regulatory circulars
- ENIT Portal — Member services
- NSE UCC Circular ISC/61817 (Apr 2024) — KYC guidelines
- NSE UCC Circular: NSE/ISC/61817 (Apr 2024) — New format Jul 15, 2024
BSE (Bombay Stock Exchange)
Section titled “BSE (Bombay Stock Exchange)”- BSE India — Notice and circulars
- BSE UCC Portal — Client registration
- BSE UCC Web Service
- BSE StarMF — Mutual fund platform
- BSE Master Circular (PDF) — Stock broker inspection master circular
- BOLT Plus Connectivity Manual
- BOLT Plus IML API
- ETI API Manual
MCX (Multi Commodity Exchange)
Section titled “MCX (Multi Commodity Exchange)”- MCX India — Official portal
- MCX Circulars
- MCX Members — Member resources
Depository Portals
Section titled “Depository Portals”CDSL (Central Depository Services Limited)
Section titled “CDSL (Central Depository Services Limited)”- CDAS Portal — Depository system
- EASI — Electronic access
- Easiest — Online services
- EDIS — Electronic delivery instruction slip
- CDSL DDPI Implementation (PDF)
- CDSL T+0 Settlement (PDF)
- CDSL BO Setup API: Production
https://api.cdslindia.com/v1/| Sandboxhttps://sandbox-api.cdslindia.com/v1/
NSDL (National Securities Depository Limited)
Section titled “NSDL (National Securities Depository Limited)”- NSDL Portal — Official website
- NSDL Charges — Fee structure
- NSDL Statistics — Market data
- NSDL API Brief — API overview
- NSDL Circulars
- NSDL e-Services — Online services
- SPEED-e — Electronic delivery
- UDiFF Format — Unified file format (since Mar 2024)
- ISSUER Portal — Issuer services
- Client API Policy (PDF)
- Master Circular 2025 (PDF)
- Nomination Circular (PDF)
- DigiLocker CAS Facility (PDF)
- KYC Validation Circular (PDF)
- FATCA/CRS Circular (PDF)
- CKYC Upload Circular (PDF)
KRA (KYC Registration Agencies)
Section titled “KRA (KYC Registration Agencies)”All five SEBI-registered KRA portals were referenced for understanding KYC registration workflows, file formats, and API specifications.
| KRA Agency | Portal |
|---|---|
| CVL KRA (CDSL Ventures) | cvlkra.com |
| NDML KRA (NSDL Database) | kra.ndml.in |
| CAMS KRA | camskra.com |
| KFintech KRA | kra.kfintech.com |
| DOTEX KRA | Referenced in vendor comparison tables |
| Karvy KRA (FATCA circular) | karvykra.com |
Industry Analysis & Commentary
Section titled “Industry Analysis & Commentary”These third-party analyses were publicly available and provided context for regulatory interpretation.
- KPMG Flash: Stock Brokers Regulations 2026 — KPMG analysis
- SCC Online: Stock Brokers Regs 2026 Explained — Legal analysis
- Mondaq: Structural Reset of Broking Framework — Regulatory analysis
- Taxmann: Stock Brokers Regulations 2026 — Tax and compliance perspective
- DPNC Global: Key Changes & Implications — Legal analysis
- TaxGuru: SEBI Master Circular 2024 — Stock broker guidelines
- Cyril Amarchand: AML/CFT Deep Dive — AML/CFT analysis
- Legality Simplified: Nomination Amendments — Nomination circular analysis
- PIB: SEBI-DigiLocker Partnership — Government press release
- Enterslice: FATCA/CRS Compliance — FATCA/CRS analysis
Other Public Sources
Section titled “Other Public Sources”- SEBI website (sebi.gov.in) — Master circulars, regulations, FAQs, and consultation papers
- RBI website (rbi.org.in) — Account Aggregator framework, UPI guidelines, e-mandate circulars
- NPCI website (npci.org.in) — UPI operating circulars, e-KYC Setu, AutoPay specifications
- MeitY (meity.gov.in) — DigiLocker and Aadhaar ecosystem documentation, DPDP Act
- UIDAI (uidai.gov.in) — Aadhaar authentication and e-KYC specifications
- Income Tax Department (incometax.gov.in) — PAN verification and ITR standards
- DFS (financialservices.gov.in) — Account Aggregator framework overview
- Sahamati (sahamati.org.in) — Account Aggregator ecosystem data and certified entities
- AMFI (amfiindia.com) — Mutual fund industry standards and KYC guidelines
Attribution Note
Section titled “Attribution Note”All vendor names, product names, logos, and trademarks mentioned in this documentation belong to their respective owners. Their mention here is purely for technical reference based on publicly available information and does not imply any endorsement, affiliation, or partnership. The vendor comparisons and recommendations are generated by an AI model and should not be treated as professional advice.