Aadhaar card may become mandatory for stock dealings
DSIJ Intelligence / 10 Aug 2017
Aadhaar card may soon become mandatory for buying shares and mutual funds.
Aadhaar card may soon become mandatory for buying shares and mutual funds. The government and the Securities and Exchange Board of India (SEBI) are planning to link Aadhaar to financial market transactions to try and curb sharp practices such as conversion of black money into white through the stock market, reported a leading news daily.
It also said that the government has realised that the permanent account number (PAN) may not be enough to plug tax leaks. Meanwhile, Aadhaar may not replace PAN as the sole identification number for financial market transactions.
The government recently mandated that Aadhaar, launched in 2009 by the UPA government, be linked to PAN, bank accounts and mobile phone numbers. The deadline for existing bank account holders to provide their Aadhaar details is December 31, 2017.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.