Sanjeev Mehta Applauds PAN 2.0 as a Crucial Government Initiative

By A Staff Reporter

New Delhi: Sanjeev Mehta, former Managing Director of Standard Chartered Bank, praised the Union Cabinet's approval of PAN 2.0, calling it a critical initiative for consolidating India's data systems.

“This is a very critical initiative from a government perspective to actually consolidate all the data which was being issued in older days,” Mehta said, highlighting the significance of the new system in streamlining data management.

With PAN 2.0, Mehta explained that the consolidation of records from different authorities into a single interface would create a “single source of truth” for consumers, ensuring greater efficiency and accuracy. “There are two different authorities issuing PAN; with this single interface and integration, the consolidation would allow a single identity for the consumers,” he added.

He further emphasized that the new system would handle all future PAN issuances, while merging older records into a unified database. “All new will be issued on the new system, and all old will be merged into a common database which is what the government has issued,” he clarified.

Mehta also pointed out that this move addresses a long-standing demand in the industry for a more integrated and streamlined process. “This is a very important infrastructure. There has been a long pending demand in the industry to help create this single interface,” he said.

In conclusion, he hailed the initiative as a “great move” from the government, one that will benefit consumers and industries alike by improving the efficiency and reliability of the PAN system.