New Delhi, Mar 30 (KNN) Securities and Exchange Board of India has done away with the submission of physical documents by investors to the KYC Registration Agencies (KRAs) in favour of the electronic format only.

"The intermediary shall perform the initial KYC of the client, upload the KYC information with proper authentication on the system of the KRA, furnish the scanned images of the KYC documents to the KRA, and retain the physical KYC documents," Sebi said in a circular.

The intermediaries, including mutual funds, would need to submit scanned copies of investor documents to the KRAs and retain the physical documents with themselves.

However, the physical documents would need to be submitted, whenever KRAs demand them. (KNN)