Description
NSE introduces new client categories to differentiate between NRE and NRO account holders in the UCC database, effective November 22, 2025.
Summary
NSE is revising the client category structure in the Unique Client Code (UCC) database to facilitate better identification of Non-Resident External (NRE) and Non-Resident Ordinary (NRO) clients. The existing NRI category (code 11) will be reclassified as NRE, and a new category code 37 will be introduced for NRO clients. Trading members must update their client records accordingly by the effective date.
Key Points
- Current NRI client category (code 11) will be treated as NRE effective November 22, 2025
- New investor category code 37 created for NRO account holders
- Trading members must update all client records in the UCC database
- No changes required for existing UCCs created for NRE accounts
- Changes will be available on UCI Online from November 22, 2025
Regulatory Changes
Client Category Structure:
| Client Category | Category Code | Remarks |
|---|---|---|
| NRE | 11 | Existing NRI clients shall be treated as NRE |
| NRO | 37 | Client category for NRO account holders |
The exchange is creating these new investor categories to enable easier identification and classification of non-resident clients based on their account types.
Compliance Requirements
Trading Members must:
- Review all existing client records in the UCC database
- Update client classifications as needed:
- Clients with NRE accounts: No change required if already under category 11
- Clients with NRO accounts: Update to new category code 37
- Complete all necessary updates before the effective date
- Ensure accurate classification going forward
- Contact uci@nse.co.in for any queries
Contact Information:
- Email: uci@nse.co.in
- Toll Free: 1800 266 0050 (select option 5)
Important Dates
- Circular Date: October 30, 2025
- Effective Date: November 22, 2025
- UCI Online Availability: November 22, 2025
Impact Assessment
Operational Impact:
- Trading members need to review and update client records in their UCC database
- System changes required to accommodate the new NRO category code 37
- Enhanced clarity in client categorization for regulatory and operational purposes
Market Impact:
- Limited direct market impact
- Improves data accuracy and regulatory compliance for non-resident investor classification
- Facilitates better monitoring and reporting of NRE vs NRO client activities
Administrative Burden:
- One-time exercise to reclassify existing clients
- Trading members have approximately 3 weeks to complete the updates
- Process streamlined through UCI Online platform
Impact Justification
Administrative change affecting NRI client classification in UCC database. Trading members must update records by November 22, 2025 to ensure proper categorization of NRE vs NRO clients.