NSE · Surveillance · High

NSE to bar trading from July 25 for clients with 'On Hold' KYC records

Clients whose KYC uploaded June 1-30 remains 'On Hold' will be prohibited from trading and squaring off open positions from July 25, 2026. Open positions will expire naturally.

13 Jul 2026 Effective July 25, 2026 Affects: Clients whose KYC records uploaded to KRAs between June 1 and June 30, 2026 remain 'On Hold' status. Trading members must identify and notify affected clients.

What changed

NSE to prohibit trading for clients with 'On Hold' KYC records from July 25, 2026.
Non-compliant clients cannot square off open positions; they expire at contract expiry.
PANs marked 'Not Permitted to Trade' until KRA validation is completed.

The read

NSE is enforcing a hard deadline for KYC validation. Clients who ignore the 'On Hold' status will lose trading access entirely from July 25, 2026 and won't even be able to close positions — they'll have to wait for contracts to expire. Trading members face operational risk if they fail to act. The exercise is part of SEBI's framework for clean KYC data and death reporting.

NSESEBIKRA

Primary source: official circular (PDF)