Aadhaar Card is a Valid Address Proof for Investors

Posted In India - By NitiN Kumar Jain On Wednesday, August 15th, 2012 With 0 Comments

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SEBI (Securities and Exchange Board of India) has allowed investors to use Aadhaar cards as a valid address proof for their accounts with brokerage firms, mutual funds, portfolio managers and other capital market entities.

Aadhaar is 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, but it can now be used as a valid address proof too.

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