NEW DELHI: Market regulator Sebi said today that investors can use Aadhaar cards as proof of valid address for your accounts with brokerage firms, mutual funds, portfolio managers and other capital market institutions.
'Aadhaar', a 12-digit individual identification issued by UIDAI (Unique Identification Authority of India), and is allowed as an identity proof valid in the capital market.
Other documents may be used as proof of address in the capital market: a passport, driving license, voter ID card, ration cards, bank statements and utility bills, while valid documents identification test also include PAN (permanent account number) card.
Aadhaar also allowed as valid proof of identity documents and proof of address in the KYC (know your customer) procedures for opening bank accounts, insurance, telecommunications and many other services.
Now, Aadhaar can be used as "proof of the Directorate of Know Your Customer (KYC) standards of capital market, Sebi said in a circular issued to investment funds, brokers, depository participants, managers portfolios, alternative investment funds and collective investment schemes, including market entities.
In consultation with UIDAI, Government of India, has now decided that the letter issued by Aadhaar UIDAI is admissible as proof of address, in addition to its now recognized as proof of identity, "said Sebi.
Sebi has informed the same to the Association of Mutual Funds in India (AMFI) and KYC Registration Agencies (ARC) as well.
UIDAI was created by the government in 2009 with a mandate to give all residents a unique identification number linked to demographic and biometric information of the resident, they can use to identify themselves anywhere in India, and to access various services . This unique identification number was later named 'Aadhaar.
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