PAN must for demat account holders

The requirement of having a PAN has been made mandatory by the Securities and Exchange Board of India (SEBI). In accordance with the SEBI guidelines, the Depositories, NSDL and CSDL requirements state that a PAN card is now compulsory documents for all categories of demat account holders. In case of joint accounts, this requirement applies [...]

Not citizens, it’s the state that needs an ID card

A fundamental aspect of the relationship between you, as an Indian citizen, and the Indian state may soon radically change: so far, you are in the eyes of the state constitutionally presumed innocent unless proved otherwise. This presumption of innocence, not in a court of law but in everyday affairs, will no longer be valid [...]

PAN as common ID for all mutual funds

Beginning February 2, the permanent account number (PAN) will serve as the common identification number for all mutual fund (MF) investments above Rs 50,000. This single number will work for all MFs — unlike today when each investor has to provide a separate number (folio number) issued by each of the 32 fund houses. Along [...]