New Delhi, April 25 -- Finance minister Nirmala Sitharaman urged the Securities and Exchange Board of India (Sebi) to take the lead in simplifying and digitizing know your customer (KYC) processes, calling for a single, unified KYC for investors.

Speaking at Sebi's 38th foundation day event on Saturday, Sitharaman said the regulator should help drive common KYC norms across sectors, a long-pending reform discussed at meetings of the Financial Stability and Development Council.

"Each regulator is keen to do it. I would suggest that Sebi should help drive the prescription of the common KYC norms and the simplification and digitisation of KYC processes across the Indian securities market," Sitharaman said.

"We need a seamless, secure and ...