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Aadhaar may be made mandatory for buying shares and mutual funds

Aadhaar

New Delhi: Government and market regulator Securities and Exchange Board of India (SEBI) are planning to link Aadhaar to financial market transactions, as per sources.

The government may soon make it mandatory to quote Aadhaar details for buying shares and mutual funds.T

The move is aimed at curbing “sharp practices such as conversion of black money into white through the stock market,” sources said.

The linking of the PAN with UIDAI-linked Aadhaar was made compulsory by the government for filing income tax returns. Also, Aadhaar had become mandatory in order to avail a PAN card, effective July 1.

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