As per the circular dated 6th April 2022, The Securities and Exchange Board of India announced the change in the SEBI KRA regulations, and the following points will be in effect from 1st November 2022:

• The KYC records of the new clients will be validated by the KYC Registration Agency (KRA). Until then, the clients will not be able to trade or invest with their newly opened accounts.
• Clients who have already registered their KYC details in the KRA will not have any such delays and can trade/invest as soon as their account is activated.
• The new KRA regulations will not impact our existing clients.

For more details, refer to this SEBI circular

Update!

CDSL has extended the timeline till 30th of November 2022. As a result, all the clients will be able to trade or invest with their newly opened accounts.
(edited on 24th November 2022)