Finance ministry permits 15 securities firms to undertake Aadhaar-based verification of clients

The finance ministry has permitted 15 securities firms, including SBICAP Securities, IIFL Securities, and Angel One, to conduct Aadhaar authentication of their customers. The Revenue Department under the finance ministry has issued a notification under the Prevention of Money-laundering Act allowing the 15 reporting entities to conduct Aadhaar-based KYC (know your customer) process.

The 15 entities also include JM Financial Services, Arihant Capital Market, SMC Global Securities, Aditya Birla Money, R.K. Stock Holding, Monarch Networth Capital, RKSV Securities, Comfort Securities, and OPG Securities Pvt Ltd.