Sebi chief ‘warns’: Cannot allow Paytm type .

Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch has underscored the critical importance of stringent Know Your Customer (KYC) procedures in the financial services sector. Talking to media at the launch of India’s first dedicated website for passive mutual funds, she emphasized that the KYC Registration Authority (KRA) system is indispensable for safeguarding the stock market in the country.