New Delhi, June 5 -- Startup Policy Forum (SPF), an alliance representing India's new-age companies, has submitted a note to the Securities and Exchange Board of India (Sebi) and the finance ministry, highlighting operational challenges faced by non-resident Indians (NRIs) in completing KYC and digital onboarding processes for access to Indian financial services. The industry body has also proposed recommendations to ease these frictions.

"We are sharing this in the spirit of supporting a more seamless, accessible and fully digital onboarding framework for NRIs participating in India's financial services ecosystem," reads the internal document reviewed by Mint.

The move is well-timed, as the central bank proposed on Friday allowing NRIs...