Following regulatory changes : New address proof for investor... Aadhaar card

IMPost : 20120820 ( 3 of 7 )


Now Aadhaar card is valid address proof for investments.


13-Aug-2012

Source : PTI

As per market regulator Sebi investors can use Aadhaar cards as a valid address proof for their accounts with brokerage firms, mutual funds, portfolio managers and other capital market entities.

Aadhaar, a 12-digit individual identification number issued by UIDAI (Unique Identification Authority of India), is already permitted as a valid identity proof document in the capital market.

The other documents permitted to be used as address proof in the capital market include

passport,
driving licence,
voter ID card,
ration card,
bank statement and
utility bills,

while valid ID proof documents also include PAN (Permanent Account Number) card.

Aadhaar is also permitted as valid ID proof &
address proof documents in the KYC (Know Your Customer) procedures
for opening of bank accounts, insurance, telecom and many other services.

Now, Aadhaar can be used as ‘Proof of Address for Know Your Client (KYC) norms’ of capital market, Sebi has informed the same to Association of Mutual Funds in India (AMFI) and KYC Registration Agencies (KRAs) as well.