SEBI Permits Digitally Signed PoAs For FPI Onboarding Without Notarisation

On 20 August, the Securities and Exchange Board of India (SEBI) permitted Foreign Portfolio Investors (FPIs) to submit digitally signed Powers of Attorney (PoAs) to custodians in accordance with the Information Technology Act, 2000, removing the need for notarisation, apostillisation or consularisation.

SEBI amended Para 9(B)(iv) of Part B of the FPI Master Circular to allow custodians to accept PoAs that are either notarised, apostilled or consularised, or digitally signed in accordance with the IT Act, 2000. The new circular stated:

“This eliminates the need for notarisation, apostillisation or consularisation of Power of Attorney, thereby reducing the overall time taken for FPI onboarding and improving ease of doing business for FPI applicants.”

The regulator noted that the FPI Master Circular sets out the Know Your Customer (KYC) requirements and acceptable proof of address documents. It said that the regulator had taken several measures to streamline and digitalise FPI registration, including introducing the Common Application Form and enabling digital signatures for registration documents.

As part of these measures, SEBI has now permitted FPIs to submit digitally signed PoAs to custodians, provided the signatures comply with the Information Technology Act, 2000.

The circular takes effect from 20 August 2026.