How integrating PAN 2.0 with Aadhaar and ‘e-Rupee’ can streamline investments and KYC

On your last vacation, remember the number of times you had to show your physical Aadhaar card and Permanent Account Number card to comply with know-your-customer norms at hotels and airports? Integrating the Aadhaar card’s address details in the dynamic QR code can make PAN 2.0 a universally acceptable single-point identity and address proof identifier for investments across asset classes. By embedding the dynamic QR code with the digital wallet associated with the ‘e-Rupee’ into various investment platforms, investors can instantly comply with KYC onboarding requirements and simultaneously execute their investment transactions on a real-time basis, eliminating physical verification and interbank settlement delays. The integration of the dynamic QR code of PAN 2.0 with the ‘e-Rupee’ can provide a cost-effective alternative to traditional banking, enabling even users without bank accounts to transact securely in the sovereign digital currency. Thus, the integration of the dynamic QR Code feature of PAN 2.0 with the Aadhaar card and the RBI’s digital ‘e-Rupee’ can indeed become a game changer in ensuring ‘paperless KYC’ and ‘wallet-less’ secure financial transactions, transforming the ‘Digital India’ initiative of the Modi government in a never-thought-of manner before.