Now, Aadhaar may be made mandatory for buying shares, mutual funds

When the new rule will come into effect and whether Aadhaar will completely replace PAN is not known

The government might soon make Aadhaar mandatory for buying shares and mutual funds to prevent the conversion of black money into white through the stock market, the Economic Times reported on Thursday.  

According to the financial daily, the government and the Securities and Exchange Board of India (Sebi) are planning to link financial market transactions to Aadhaar after, according to two sources cited by the report, the former came to realise that the permanent account number (PAN) might not be sufficient in putting an end to tax evasion.  

"We have been told that making Aadhaar