Description
BSE introduces separate classification for NRE and NRO clients in UCC database. Existing NRI category will be renamed to NRE, and new NRO category will be added effective November 22, 2025.
Summary
BSE is revising the client category structure in the Unique Client Code (UCC) database to facilitate better identification of non-resident clients. The existing “NRI” client category will be renamed to “NRE” (Non-Resident External), and a new “NRO” (Non-Resident Ordinary) category will be introduced. Trading members must update their client records accordingly before the implementation date of November 22, 2025.
Key Points
- Existing “NRI” client category in UCC database will be renamed to “NRE” (Non-Resident External)
- New client category “NRO” (Non-Resident Ordinary) will be introduced
- Changes aim to facilitate ease of identification of NRE and NRO clients
- Trading members must update all client records in the UCC database
- Changes will be available on UCC module from November 22, 2025
- No changes required for UCCs already created for NRE accounts
Regulatory Changes
Revised UCC Client Classification Structure:
| Client Type | Client Status | Client Category | Category Description | Remarks |
|---|---|---|---|---|
| INDIVIDUAL (I) | CLIENT | NRE | Non-Resident External | Existing NRI clients will now be classified as NRE |
| INDIVIDUAL (I) | CLIENT | NRO | Non-Resident Ordinary | New category will be introduced for NRO account holders |
Trading members can undertake requisite changes in existing client categories to align with the new classification structure.
Compliance Requirements
- Trading Members must ensure all client records are updated in the UCC database according to the new classification
- Review existing NRI client accounts and classify them appropriately as NRE or NRO
- Update systems to accommodate the new NRO category
- Complete necessary updates before the implementation date
- Ensure proper documentation distinguishing between NRE and NRO account holders
Contact Information for Clarifications:
- Phone: 022-2272 8435/5785
- Email: ucc@bseindia.com
- Keyur Punatar, Deputy Vice President, Investigation
- Poonam Pisat, Assistant Vice President, Investigation
Important Dates
- October 30, 2025: Circular issued (Notice No. 20251030-57)
- November 22, 2025: Implementation date - revised classification becomes effective and available on UCC module
Impact Assessment
Operational Impact: Medium - Trading members will need to review and update their client databases to reflect the new categorization. System changes may be required to handle the new NRO category.
Compliance Impact: This change improves regulatory compliance by providing clearer distinction between NRE and NRO clients, which have different regulatory treatments under FEMA (Foreign Exchange Management Act) regulations.
Client Impact: Minimal direct impact on clients, as this is primarily an administrative reclassification. However, proper categorization ensures clients receive appropriate treatment based on their account type.
Timeline Impact: Trading members have approximately three weeks from the circular date to complete necessary system and database updates before the November 22, 2025 implementation.
Impact Justification
Administrative change affecting client classification for trading members. Requires system updates but does not impact trading operations directly. Important for proper client categorization and compliance.