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People who have not linked their Aadhaar with their financial accounts can now relax for a bit. The Government on 21st February 2018 has extended the deadline for linking a bank account with Aadhaar card. 

The Ministry of Finance tweeted, “It has been decided by the Government to notify 31st March, 2018 or six months from the date of commencement of bank account based relationship by the client, whichever is later, as the date of submission of Aadhaar number & PAN or Form 60 by the clients to the reporting entity”.

The Government has instructed all the banks, financial institutions, and intermediaries to make the Aadhaar-bank account linking process mandatory. They have taken this measure to prevent Money Laundering issues.

writing-notes-idea-conferenceDeadlines

  1. Existing accounts: For individuals whose bank accounts are more than 6 months old, the deadline is 31st March 2018.
  2. New accounts: For individuals who have opened their bank accounts recently, the deadline is within 6 months from the date of opening.

Before the new instruction, the confirmed date for linking Aadhaar with bank accounts was 31st December 2017. However, the Department of Revenue in the finance ministry had issued a notification to prevent this from happening soon.

People have to link their Aadhaar to bank accounts to avoid the inoperability of their accounts. If you are a new account holder, you have got some more time to relax and finish the process accordingly.

(The above content is made by the author solely on the basis of sources which he/she deems to be true. Paymatrix: www.paymatrix.in  is not responsible for any errors in the above information provided.)

 

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