The National Stock Exchange (NSE) on January 12, 2026, issued a circular regarding Trading Restrictions Due to Non-Validation of KYC by KRAs.
It is hereby informed that the clients whose KYC are not found to be validated by KRAs i.e. where the KYCs are “On Hold” for any reasons (both AADHAAR and Non-AADHAAR based OVD) uploaded to the KRA from December 01, 2025 to December 31, 2025 shall neither be Permitted to Trade on the Exchange, nor will they be allowed to square off their open positions, if any, w.e.f. January 24, 2026 until they comply with the validation requirements. Eventually, such open positions will naturally expire on the expiry date of the respective contract.
The Exchange shall flag the non-compliant PANs, provided by the KRAs, as Not Permitted to Trade w.e.f. January 24, 2026. All PANs that become KRA compliant subsequently, will be permitted to trade on T+1, based on the information received from KRA by the Exchange on T Day.
[Circular No: 03/2026]
