Sunday, July 23 2017

June 16, 2017

Aadhaar card will mandatory to open a bank account

New Delhi-Aadhaar card will be mandatory to open a bank account and financial transactions of Rs 50 thousand and above.Govt said that all existing bank account holders have also been asked to submit Aadhaar to banks by 31st of December this year. Bank accounts which are not be seeded with Aadhaar number by due date will become invalid.In Budget 2017 Govt has already mandated seeding of Aadhaar number with Permanent Account Number to avoid individuals using multiple PANs to evade taxes.