Description
BSE introduces new investor categories in UCC database, reclassifying existing NRI clients as NRE and creating a new NRO category for Non-Resident Ordinary account holders, effective November 22, 2025.
Summary
BSE is revising client categories in the Unique Client Code (UCC) database to facilitate better identification of Non-Resident External (NRE) and Non-Resident Ordinary (NRO) clients. Effective November 22, 2025, the existing “NRI” client category will be reclassified as “NRE”, and a new “NRO” category will be introduced. Trading Members must update all client records accordingly in the UCC database.
Key Points
- Existing NRI client category in UCC database will be renamed to NRE (Non-Resident External)
- New investor category NRO (Non-Resident Ordinary) being created
- Changes designed to facilitate ease of identification of NRE and NRO clients
- No changes required for UCCs already created for NRE accounts
- Requisite changes may be undertaken for existing client categories
- Trading Members responsible for ensuring client records are updated
Regulatory Changes
UCC Database Client Classification Structure
Revised Classification:
| 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 |
Compliance Requirements
For Trading Members:
- Update Client Records: Ensure all client records are updated accordingly in the UCC database
- Verify NRE Accounts: No change required if UCC has already been created for NRE account
- Classify NRO Clients: Use new NRO category for Non-Resident Ordinary account holders
- Complete Updates: Complete all necessary updates before the effective date
Contact Information for Clarifications:
- Phone: 022-2272 8435/5785
- Email: ucc@bseindia.com
- Contact Persons:
- Keyur Punatar, Deputy Vice President, Investigation
- Poonam Pisat, Assistant Vice President, Investigation
Important Dates
- Notice Date: October 30, 2025
- Effective Date: November 22, 2025 - Revised classification and new NRO category available on UCC module
- Deadline for Updates: Trading Members should complete necessary updates before November 22, 2025
Impact Assessment
Operational Impact:
Medium Impact - This is an administrative and database classification change that affects Trading Members’ client record management systems. The impact is operational rather than market-facing:
- Trading Members: Must review and update client category classifications for all NRI clients
- System Updates: May require updates to internal systems and processes to accommodate new NRO category
- Client Communication: May need to communicate changes to affected NRI clients
- Data Migration: Existing NRI records will be automatically treated as NRE from effective date
Benefits:
- Improved clarity in distinguishing between NRE and NRO account types
- Better regulatory compliance and record-keeping
- Enhanced identification and tracking of non-resident client categories
No Impact On:
- Trading operations or market functioning
- Client trading rights or privileges
- Existing NRE accounts (no action required)
Impact Justification
Operational change affecting NRI client classification in UCC database. Requires Trading Members to update client records but does not impact trading rules or market operations directly. Medium importance due to mandatory compliance requirement with specific deadline.