Soon, Aadhaar may be compulsory for buying shares, mutual funds

The government and security markets authority Securities and Exchange Board of India – SEBI plan to link Aadhaar to financial market transactions, says a report.

The government may soon make it a must to provide Aadhaar details for buying shares and mutual funds.

The idea is to reduce practices of converting black money into white through the stock market.

It is also reported that the move has come after officials found that the details of Permanent Account Number (PAN) may not be enough to keep a check on the fraud transactions.

From 1 July, the government made it compulsory to link existing Aadhaar numbers with PAN of taxpayers.