Brokers ask for more time to comply with Aadhaar diktat

Stock exchanges directed brokers to close accounts of clients who fail to submit Aadhaar by Dec 31

Stock exchanges have asked brokers to furnish Aadhaar details for all their existing clients before the end of this year. Brokers fear they won't be able to meet the deadline and have asked for more time for compliance. 

“The December deadline will be slightly cumbersome in terms of achieving 100 per cent compliance. We have told stock exchanges to give us a year to complete the full database,” said C J George, managing director, Geojit Financial Services. 

“There are legacy clients. There are lot of investors who are not active now but were active in the past. We have asked for time