Notice No.   20240215-55   Notice Date   15 Feb 2024
Category   Compliance   Segment   General
Subject   Aadhaar seeding with PAN - Non Resident Indian (NRI) Clients

This has reference to the Exchange notice no. 20230626-2 dated June 26, 2023, regarding clients not being permitted to trade or square off their open positions in case where PAN-Aadhaar linking status was not updated in the Exchange system.

Concerns have been raised by members about the trading restrictions imposed on NRIs whose PANs have not been linked to Aadhaar. Though NRIs are exempted from linking their PAN with Aadhaar, this exemption would be applicable only if the NRIs updated their residential status in the ITD (Income Tax Department) database.

In this context, the Income Tax Department vide public announcements had advised NRIs to update their NRI status with their respective Jurisdictional Assessing Officer (JAO) along with supporting documents for updating their residential status in the Income Tax database.  Trading members had been duly informed of this requirement through email communication earlier.

In adherence to these requirements, PANs categorized as NRI in the UCC database of the Exchange must be either marked as “PAN-Aadhaar linked” or be marked as "Not Applicable" as per the Income Tax record provided by Protean eGov Technologies Ltd. For UCCs of NRI investors, having any status other than the above two, such UCCs will neither be able to trade nor square off their open positions from February 24, 2024, for both new and existing clients.


Trading members are advised to ensure strict compliance with the above guidelines.


In case of any clarifications, members may contact us on details given as under:

Contact Nos.

022-2272 8435/5785

Email ID



For and on behalf of BSE Ltd.



Hiteshkumar Desai                                  Jyoti Thukral

General Manager                                     Senior Manager

Inspection                                                 Inspection