Markets regulator SEBI has asked all registered entities, including mutual funds, to accept only Aadhaar-linked PAN after September 30, which is the last date for investors to link their PAN and Aadhaar cards.
"Since, PAN is sole identification number for all transactions in the securities market, all SEBI registered entities including market infrastructure institutions (MIIs) should accept only operative PAN (i.e., linked with Aadhaar number) by the client while opening new accounts post September 30, 2021 or any other date specified by CBDT," SEBI said in a press release.
Further, SEBI has advised investors to link their PAN with Aadhaar before September 30 to prevent any disruption in securities market transactions.
According to the government, PAN card would become inoperative if people fail to link their Aadhaar and PAN before the set deadline. Since PAN is mandatory in mutual funds, investors’ MF folio may also get inactive if they fail to link the two on time.
Industry body AMFI has also issued a similar message on its website, urging investors to link their PAN and Aadhaar as early as possible.
