Aadhaar mandatory buy shares. Aadhar card soon can be made mandatory to buy shares and mutual fund units. The government and Security & Exchange board of India are planning to link Aadhar card to Financial market transaction. According to them it will help to stop the trading and gaming of black money to white through stock market.
According to the sources Government feels that Pan card is not enough to stop theft of tax. At present brokers, mutual fund companies and investors are identified from Pan Number and now Adhaar will be made mandatory soon although it is not announced yet.
The govt. has already said to link Aadhar card with Pan, Bank account and mobile no. Bank account holders have to submit their Aadhar no.
to banks by December 31 this year.
Aadhar can be used for KYC for Online Mutual Transaction. According to brokers mandatory Aadhar will help in stock market issues. Meanwhile one C.E.O of brokers firm said that some regional companies are worried that how many old customers will stay with them after making the Aadhar mandatory.
