The Multi Commodity Exchange Clearing Corporation Limited (MCX) on July 08, 2024, notified regarding the review of validation of KYC records by KRAs under the Risk Management Framework.
The following has been stated namely: -
• It is in reference to the Exchange circular no. MCX/S&I/414/2023 dated June 27, 2023, related to linking of Aadhaar with PAN, wherein clients who are not complying with the requirement of linking the PAN with Aadhaar shall not be allowed to trade on the Exchange platform.
• It states that PAN - Aadhaar Seeding shall no longer be mandatory for trading in Securities Markets and if any client who is eligible for seeding their PAN with their Aadhaar details has failed to do so, due to any reason, shall still be permitted to trade on the Exchange platform, if all the other requisite conditions/validations are fulfilled.
[Circular no. - MCX/S&I/446/2024]
