Govt extends Due Date for Linking Aadhaar-PAN with Bank Accounts [Read Notification]

The Central Government has extended the due date for linking of PAN-Aadhaar with the Bank accounts till March 31st 2018.

The government, in this regard, has amended rules requiring mandatory quoting of national biometric identifier Aadhaar and PAN for certain financial transactions like opening of a bank account by keeping the deadline open-ended in place of the current December 31.

Earlier, the Government has made linking of Aadhaar Card mandatory for opening bank accounts as well as for every financial transactions of Rs. 50,000/- and above and asked the existing bank account holders to furnish their Aadhaar details by December 31st, 2017. As per the notification, the account holders, who fails to submit the above details before the deadline will be barred from operating the accounts.

This is in line with the Centre last week informing the Supreme Court that it is willing to extend till March 31 the deadline fixed for mandatory linking of Aadhaar to avail various services and welfare schemes.

On December 7, the deadline for linking PAN with Aadhaar was extended by three months to March 31, 2018.

The Notification issued on Tuesday said that “Provided that in case the client already having an account based relationship with reporting entities prior to the date of publication of this notification in the official Gazette fails to submit the Aadhaar number and Permanent Account Number by such date as may be notified by the Central Government, the said account shall cease to be operational till the time the Aadhaar Number and Permanent Account Number is submitted by the client.”