To All Members,
Aadhar seeding with PAN
This is with reference to Exchange notice nos. 20210503-41dated May 03, 2021 and 20210901-46 dated September 01, 2021, 20210930-40 dated Sep 30, 2021 and 20220310-31 dated March 10, 2022, with regard to Aadhar seeding with PAN. It was informed that w.e.f. April 1, 2022, PANs not seeded with Aadhar will be considered as invalid for the purpose of trading in the Securities Market.
In continuation to the above notices and in accordance with the guidelines issued, all members are once again advised to ensure that their existing and new clients comply with the requirement of linking the Aadhar with PAN by March 31, 2022.
Further, it may be noted that the status of PAN-Aadhar seeding has been provided by the Exchange in UCC -> Download All report and through API.
As advised vide aforesaid circulars that the PANs not seeded with Aadhar by the due date shall be considered invalid and not permitted to trade w.e.f. April 01, 2022. The clients who have failed to comply with the requirement of seeding the PAN with Aadhar by the due date, will not be able to place orders or square off their open position, if any, post March 31, 2022. Such open positions will naturally expire on the expiry date of the respective contracts. The client will be permitted to trade only on compliance with the requirement.
For UCCs where the Aadhar is not seeded with PAN and the same is seeded subsequently, the trading members are required to request Exchange to seek the updated status of the seeding for the UCC. The request can be raised by sending email at user.trdops@bseindia.com with a subject “Request for PAN-Aadhar seeding verification (Clg no. XXXX)”. The updated status shall be available upon the completion of verification process.
It may be noted that PAN-Aadhar seeding is one of the requirements for the client to be considered as compliant and permitted to trade. If the client fails to comply with any of the requirements as specified in the Exchange notice no. 20220324-55 dated March 24, 2022, such client shall be considered as non-compliant and shall not be permitted to trade w.e.f. April 01, 2022.
Trading Members are advised to take note and comply with the above guidelines.
For and on behalf of BSE Ltd.
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Hiteshkumar Desai
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Sanjay Pardiwala
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Add. GM - Brokers’ Supervision
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DGM- Trading Operations
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