In a progressive and long-awaited step, the Securities and Exchange Board of India (SEBI) has issued a groundbreaking circular on July 31, 2025, requiring all SEBI-regulated entities to comply with digital accessibility norms. This move is designed to align the financial sector with the Rights of Persons with Disabilities (RPwD) Act, 2016, reinforcing SEBI’s commitment to building a truly inclusive financial ecosystem in India.
This regulatory shift also brings digital accessibility services to the forefront of compliance strategy for financial institutions, signaling a major change in how digital platforms in the sector are designed, maintained, and evaluated.
Why Digital Accessibility in Finance Matters
Digital financial platforms—including trading apps, KYC portals, and investment dashboards—have become essential for investors. However, for millions of Indians with disabilities, these tools remain difficult or impossible to use due to poor accessibility. The new SEBI circular directly addresses this gap, elevating digital inclusion from an ethical ideal to a legal obligation.
SEBI’s mandate ensures that digital accessibility is not treated as a secondary consideration, but as a core compliance requirement. The circular applies to a wide range of Regulated Entities (REs) including:
- Recognized Stock Exchanges
- Clearing Corporations
- Depositories
- Mutual Funds
- Portfolio Managers
- Investment Advisors
- KYC Registration Agencies (KRAs)
- Other registered intermediaries
Legal Context and Supreme Court Ruling
SEBI’s directive draws legal strength from the Supreme Court’s judgment dated April 30, 2025, in two pivotal cases: Pragya Prasun & Ors. vs. Union of India and Amar Jain vs. Union of India. The Court ruled that the right to digital access is part of the fundamental right to life and personal liberty under the Indian Constitution.
This ruling clarified that persons with disabilities must have equal access to digital financial services, including e-KYC, video KYC, and onboarding procedures. SEBI’s circular acts as the enforcement mechanism of this constitutional interpretation in the financial domain.
Key Compliance Requirements and Timelines
SEBI has provided a detailed, phased roadmap to help Regulated Entities achieve full compliance. The key milestones include:
- By August 31, 2025: Submit a list of all digital platforms and an initial compliance report.
- By September 14, 2025: Appoint IAAP-certified digital accessibility auditors.
- By October 31, 2025: Conduct complete accessibility audits of websites, apps, and other digital interfaces.
- By January 31, 2026: Fully remediate non-compliance findings and achieve complete accessibility.
- Ongoing: Annual accessibility compliance reports and regular audits.
To ensure lasting change, SEBI requires that these audits be conducted by professionally certified accessibility experts and that persons with disabilities participate in usability testing.
Accessibility Standards to Follow
Regulated Entities must adhere to the following internationally and nationally recognized standards:
- WCAG 2.1 or later: Global benchmark for web content accessibility by W3C.
- GIGW: Indian government standards for accessible websites.
- IS 17802:2022: Indian standards for ICT accessibility from the Bureau of Indian Standards.
- RPwD Act & Rules (2016/2017): Especially Sections 40, 42, and 46.
Compliance is expected to evolve as standards are updated. Entities must always adopt the latest version of these accessibility norms.
Role of Digital Accessibility Services
As financial institutions rush to meet these obligations, the demand for digital accessibility services is expected to surge. These specialized services help organizations:
- Conduct detailed accessibility audits
- Identify and fix WCAG violations
- Train internal teams and vendors
- Integrate inclusive design principles
- Ensure ongoing monitoring and reporting
Hiring digital accessibility professionals will no longer be optional—it is now a regulatory necessity.
Institutional Responsibility and Governance
SEBI has made it clear that compliance starts at the top. Senior leadership—Managing Directors, Partners, or Proprietors—must formally approve accessibility plans. Additionally, each entity must appoint a Nodal Officer to oversee digital accessibility, implement audit recommendations, and act as the liaison with SEBI.
If a Nodal Officer is not formally designated, the compliance officer will be held responsible.
A grievance redressal mechanism—accessible to persons with disabilities—must also be in place, incorporating multiple communication channels such as email, helplines, and web forms.
Accessibility Beyond Websites
SEBI has emphasized that accessibility extends far beyond just websites. It includes:
- Mobile apps
- KYC platforms
- Investment dashboards
- PDF documents and reports
- Multimedia content (e.g., ISL videos, closed captions, audio descriptions)
PDFs must be tagged, properly structured, and screen-reader friendly. Video content should include Indian Sign Language interpretation and closed captioning.
Inclusive Onboarding and Accessible KYC
SEBI also requires that all KYC processes be inclusive. This includes:
- Voice-assisted or human-assisted video KYC
- Optional document upload features
- Flagging applications from persons with disabilities for manual review rather than automatic rejection
KYC forms must also include a mandatory field to declare disability status, ensuring no one is unfairly excluded due to rigid digital processes.
Vendor Procurement and SaaS Responsibility
Accessibility must be considered during procurement. Whether building an in-house app or purchasing third-party software, Regulated Entities must ensure:
- Accessibility clauses are included in RFPs and contracts
- Vendors provide proof of compliance through third-party audits
- Accessibility readiness is factored into vendor evaluations
Even when using SaaS platforms, the ultimate responsibility lies with the RE—not the vendor.
A Defining Moment for Inclusive Finance
SEBI’s directive marks a paradigm shift in the Indian financial landscape. It acknowledges that inclusive finance begins with accessible technology. This circular has transformed accessibility from a checkbox exercise to a regulatory imperative backed by the highest court in the country.
By adopting digital accessibility services and adhering to this mandate, financial entities in India will:
- Expand access to financial services for millions
- Drive innovation in accessible fintech
- Build stronger, more equitable digital infrastructures
In essence, SEBI has drawn a line in the sand: inclusion is no longer optional—it is the law.
