Acceptance of Digitally Signed Power of Attorney from FPIs · HO/19/34/14(8)2026-AFD-POD2/ I/19251/2026
SEBI circular HO/19/34/14(8)2026-AFD-POD2/ I/19251/2026 · 20 Aug 2026
SEBI circular HO/19/34/14(8)2026-AFD-POD2/ I/19251/2026 · 20 Aug 2026
Summary
Check the official recordSEBI permits Foreign Portfolio Investors (FPIs) to submit a Power of Attorney that uses a digital signature. This digital signature must comply with the Information Technology Act, 2000. This change removes the requirement for notarization, apostillization, or consularization of the Power of Attorney document. The update modifies the FPI Master Circular to streamline the onboarding process for FPIs. Custodians now accept these digitally signed documents as valid proof of address. This measure aims to reduce onboarding time and improve the ease of doing business for FPI applicants. The new provision takes effect on August 20, 2026.
What you must do
Key dates
Who is affected
[Image omitted. See the official document.]
HO/19/34/14(8)2026-AFD-POD2/ I/19251/2026
August 20, 2026
To,
1. All Foreign Portfolio Investors (FPIs) 2. All Designated Depository Participants (DDPs) and Custodians 3. All Registrars to an Issue and Share Transfer Agents 4. All Depositories 5. All recognized Stock Exchanges and Clearing Corporations 6. All Intermediaries registered with SEBI under Section 12 of the Securities and Exchange Board of India Act, 1992
Dear Sir / Madam,
SEBI vide “Master Circular for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors” No. SEBI/HO/AFD/AFD-PoD2/P/CIR/P/2024/70 dated May 30, 2024 as amended from time to time (hereinafter referred to as the ‘FPI Master Circular’) has, inter alia, specified the KYC requirements for FPIs and the list of supporting documents admissible as Proof of Address.
SEBI, over the years, has taken various measures to streamline and digitalise the FPI registration process including introduction of Common Application Form (CAF) for the purpose of registration, PAN, bank and demat accounts, permitting the use of Indian digital signatures for executing CAF and other registration documents, facilitating seamless digital signature functionality within the CAF portal and grant of registration based on scanned copies.
As part of SEBI’s continued efforts to digitalise the FPI onboarding process, it has now been decided to permit accepting a Power of Attorney digitally signed by FPIs in accordance with the provisions of Information Technology Act, 2000. 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.
Accordingly, Para 9 (B)(iv) of Part B of the FPI Master Circular stands modified as follows:
(iv). “Power of Attorney given by FPI to Custodians specifying the address (duly notarized and/or apostilled or consularised), or
Power of Attorney given by FPI to Custodians specifying the address, executed using digital signature in accordance with the provisions of the Information Technology Act, 2000.”
The provisions of this circular shall come into force with effect from August 20, 2026.
This Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 44 of SEBI (Foreign Portfolio Investors) Regulations, 2019 to protect the interest of investors in securities and to promote the development of, and to regulate the securities market.
This Circular is available at www.sebi.gov.in under the link “Legal ---Circulars”.
Yours faithfully,
Siddharth K Dachalwal Deputy General Manager Tel No.: 022-2644 9123 Email ID: siddharthkd@sebi.gov.in