India launches upgraded PAN cards with QR codes to enhance security and reduce fraud

The Indian government has launched PAN 2.0, an upgraded version of the Permanent Account Number system, which includes new PAN cards featuring QR codes. Existing PAN cards will remain valid, but taxpayers are encouraged to switch to the new design for enhanced security. The QR codes on the new PAN cards contain encrypted personal information, making them difficult to duplicate or tamper with. This feature allows for quick identity verification, reducing the risk of fraud during financial transactions. The QR code system has been in use since 2017-18, but the new version will include enhancements like dynamic codes that display updated information. A specific QR reader application is available to verify PAN details, ensuring authenticity.