An ordinary person who wants to invest in the stock market or a mutual fund, or simply open a saving bank account, is bombarded by ever increasing compliance regulations under the pretext of automation, efficiency, better governance or prevention of money laundering.

Anil Bakle, a tax consultant says, “I currently have a Unique Identification Number (which was introduced, suspended and due to be revived by SEBI, a PAN (Permanent Account Number of the Tax Department), a MIN (Mutual Fund Identification Number), a DIN (Directors Identification Number), a Passport Number and an Election Card”. …

Read More @ The Financial Express (8 Jan 2007)