Aadhar Mandatory for DMAT account by DEC 31

New Delhi Aug 23: Some Guidelines were issued yesterday.
SEBI has made Aadhar mandatory for opening DMAT accounts by DEC 31. All stock exchanges (BSE, NSE) has asked all brokers to provide information about them and their clients' base by the end of this year.

However, brokers have demanded more time for submitting details of their clients. SEBI has stepped in and reviewed the preparations of Brokers in this matter.

Sources say that market regulator has taken this steps under the amended Money Laundering Rules to prevent black Money being invested in share market/stocks.Banks have also been asked to
submit the Aadhar details of customers by Dec 31.

The regulator has said that people's accounts will be suspended from next year if they fail to submit card details. Let's hope that people comply with the rules.