All those practising unethical transactions, Beware! Aadhaar to be linked soon for financial market transaction

Centre extends deadline to link Aadhaar with PAN.

New Delhi, August 10: Government and Securities and Exchange Board of India (SEBI) about to link Aadhaar for financial market transactions. Aadhaar details would be made mandatory for buying shares and mutual funds.

According to media reports, the new system is to be executed to put an end to the practice of converting black money into white through the stock market. Mandatory quoting of Permanent Account Number (PAN) alone won’t be able to curb unethical transactions.

From July 1, the government had made it mandatory to link Aadhaar numbers with PAN of tax payers. According to the income tax rules and notification, at the time of applying for PAN, the 12-digit biometric Aadhaar or the enrollment ID has been made compulsory.

More than 25 crore PAN car holders are there in the country. At the same time 111 crore people are issued with Aadhaar.