Zerodha chief applauds SEBI's digital NRI onboarding plan, cites lingering paperwork hurdle

Zerodha’s founder and CEO Nithin Kamath lauded SEBI’s consultation paper that proposes a fully digital onboarding system for non-resident Indian investors, eliminating the need for physical presence in India. While acknowledging that recent SEBI reforms have already eased account types for NRIs, Kamath stressed that the principal pain point remains the cumbersome paperwork and international courier delays required for account opening.

The proposed allowance of electronic signatures from abroad could shrink the turnaround from weeks or months to just one or two days. Kamath pointed out that Zerodha currently serves over 50,000 NRIs, about 80% of whom are active, and that simplifying onboarding could dramatically expand this capital inflow, benefiting both investors and the Indian rupee. He described the change as a “big win” for attracting foreign money into Indian markets.