To Avail Seamless Banking Service, SBI Customers Need To Do This By June-End

To-Avail-Seamless-Banking-Service,-SBI-Customers-Need-To-Do-This-By-June-End

Highlights:

  • SBI customers need to link PAN-Aadhaar card by the 30th of June
  • SBI, in its notice, said the customers will face difficulty enjoying the banking services
  • Here is how you can link the two government documents

The State Bank of India (SBI) has issued a notice to all of its banking customers intimating all of the account holders to link their PAN-Aadhaar card by the end of this month (30th June). India’s largest lender in the public sector has further said that if they fail to do so then they will face difficulty enjoying a seamless banking service.

In a tweet, SBI said, “We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service”.

The tweet from SBI further stated that the linking of PAN (Permanent Account Number) with the Aadhaar Card is not a choice and every account holder will have to do it if not done already. If PAN and Aadhaar are not linked, then PAN will be rendered inactive and cannot be quoted for conducting specified transactions.

The last date for linking the two government documents is June 30, 2021.

PAN is mandatory for a host of financial transactions which includes the opening of a bank account, cash deposits in bank accounts, the opening of the Demat accounts, transaction of immovable properties and also dealing in securities.

Aadhaar is biometric-based and cannot be obtained based on any other identification document, linking the two is considered crucial for tax administration.

The government of India has made a number of extensions to this deadline which was initially set in July 2017 to facilitate the linking of the two identity numbers and, now the last date to link these documents is June 30.

If any account holder fails to link their PAN card with the Aadhaar card within the deadline, then the Income Tax department could impose a penalty on them. The account holder will not only be liable to pay a fine of up to ₹ 1,000 but also his/ her PAN will also become invalid.

  1. How to link PAN with Aadhaar card
  • Visit the income tax department’s e-filing portal.
  • Click on the Link Aadhaar section on the left.
  • You need to fill in PAN number, Aadhaar number and name.
  • Fill in the CAPTCHA.
  • Click at the ‘Link Aadhaar’ option and your PAN Aadhaar Linking will get complete.

The IT department will then validate the account holder’s name, Date of Birth (DoB) and gender against the Aadhaar details after which the linking will be completed.

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Ajay Kumar

Ajay joined our team as a content writer after earning his master's degree. He has been writing for since his graduation as a freelancer and raises voice for the people in need with his work. He likes to work on data-driven news reports. When he is not writing, he spends his time with his family.

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