In the nation’s capital (New Delhi) On Feb. 10, 2016, bullion market was closed because of traders’ protest against the government’s decision to make PAN card mandatory for transactions of Rs 2 lakh and above.
The government has made Permanent Account Number (PAN) card mandatory from January 1, for all transactions of Rs 2 lakh and above.
“We have shut our shops to protest against the mandatory PAN card requirement,” All India Sarafa Bazaar Association Vice President S K Jain. Two different reactions were coming one is from the government and second is from market traders.
Peoples from the market are saying that this will cause a decrease in total sell and thus they were worried because of PAN mandatory and the second view is from the government; they are saying that mandatory of PAN CARD for all transactions of Rs 2 lakh and above is important to stop corruption in society.