New Delhi, Aug. 15 -- The Securities and Exchange Board of India (SEBI) has proposed easing the KYC process for individual Persons Resident Outside India (PROIs), potentially allowing eligible Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs) and foreign nationals to complete digital onboarding for India's securities market while remaining overseas.

The proposal seeks to remove a key hurdle in the existing process, under which digital onboarding requires the client to be physically present in India. SEBI has proposed allowing eligible individual PROIs in Financial Action Task Force (FATF)-compliant countries to submit KYC records and related documents digitally from abroad.

The move could make it easier for overseas investo...