What is SEBI's KRA system and how does it simplify KYC?

KRA (KYC Registration Agency) is SEBI's central KYC database. Once you complete KYC with any SEBI-registered intermediary (broker, MF AMC, PMS), it is stored in KRA and shared across all other registered entities — no re-KYC needed. The 4 SEBI-approved KRAs are CAMS, Karvy, CVL (NSE), and NDML (BSE).