Dear Investors & Traders,
As a regulated entity by SEBI, Dhan has always strived to be at the forefront of any regulatory compliance, especially if it benefits our users.
Two years ago, on 1st April 2022, we stopped allowing users to onboard with us, if their Aadhaar was not linked to their PAN, as they would not be allowed to trade or invest in the securities market if the same wasn’t done. However, as per recent guidelines from Exchanges, this criteria is no longer applicable. To quote, refer to point no. 12 from a recent FAQ published by SEBI,
“Is PAN-Aadhaar seeding mandatory for transactions in the securities market?”
“No. The Indian government has made it mandatory for everyone to link their PAN to their Aadhaar, with certain exceptions for NRIs, non-citizens, those over 80, and residents of the states of Assam, Jammu and Kashmir and Meghalaya.
Clients in whose case, PAN Aadhaar linkage are not found to be verified, shall be allowed to transact with the existing intermediary subject to valid PAN, however the client’s KYC shall not be allowed portability in the securities market.”
In view of this recent change, starting today, Dhan will start allowing users to onboard on our platform even if your Aadhaar is not linked to your PAN.
If you have any questions, we urge you to read the entire FAQ document from SEBI. Additionally,you can also reach out to us at help@dhan.co
-Anirudha Basak
Product @ Dhan