New Delhi, June 18: Quoting Aadhaar card as a mandatory document, the government has now issued a deadline to link the biometric identity number to bank accounts. It has been notified by the government that the existing bank account holders need to submit Aadhaar details to banks on or before December 31, 2017. If a customer fails to do so, the bank account will become invalid. This means that Aadhaar-less bank accounts will be frozen after December this year.
Most banks have been encouraging account holders to link Aadhaar with their bank accounts through SMS and phone calls. Till now, PAN card was required as a document to open a bank account, or for any transactions above Rs 50,000 but from June 1, the Aadhaar number has been made mandatory for opening a bank account. Moreover, if a person does not have an Aadhaar number at the time of opening of account after 1 June, the individual has to furnish proof of application for enrollment in Aadhaar and submit the number to the bank within six months of opening the account. The government has already made it compulsory to link Aadhaar with PAN to avoid individuals using multiple PANs to evade taxes.