When an individual doesn't own a PAN card and he/she wishes to make financial transactions for which PAN details are mandatory, they can fill up form 60 and along with the relevant documents, they can give it to the individual/company they are transacting with.
Here's a list on why Form 60 is necessary for an entity to undergo any form of financial transaction in the country.
Things to remember while filling up Form 60:
The process of submitting Form 60 is very easy, you just need to fill up the form and hand it over to the individual/company head you're making the transaction with.
If you're opening a savings account in the bank and do not have a PAN card, you can fill up the Form 60 and submit it to the bank.