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Aadhaar link for demat accounts on legal footing: HC
The New Indian Express Sambalpur
|February 26, 2025
THE Orissa High Court has held that the provision mandating Aadhaar-PAN linkage for demat accounts stands on firm constitutional and legal footing and does not warrant the court's interference.
The observation came while disposing former MP Tathagata Satapathy's petition challenging a private bank making his savings-cum-demat account at a branch in Bhubaneswar "dormant", on the ground that it was not linked to Aadhaar in July 2023.
"While concerns regarding data security and privacy are acknowledged, they do not outweigh the compelling need for regulatory oversight in the securities market. Adequate safeguards have been implemented to mitigate risks, and the measure remains a proportionate and reasonable restriction on privacy," Justice SK Panigrahi observed in his February 14 judgment, full text of which was released on February 24 (Monday).
Diese Geschichte stammt aus der February 26, 2025-Ausgabe von The New Indian Express Sambalpur.
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