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Aadhaar now alternative for payments above Rs 50,000: Revenue Secy Pandey

This follows the Budget allowing interchangeability of PAN and Aadhaar

Press Trust of India 

Ajay Bhushan Pandey
Ajay Bhushan Pandey

can now be quoted for of above Rs 50,000 and other purposes in which the PAN was a must, traditionally, according to Revenue Secretary Ajay Bhushan Pandey.

Banks and other institutions will make back-end upgrades to allow acceptance of in all places where quoting PAN is now mandatory, Pandey said on Saturday.

This follows the Budget allowing interchangeability of PAN and “Today you have 22 crore PAN cards which are linked to Aadhaar. You have more than 120 crore people who have Aadhaar. Supposing somebody wants PAN, he has to first use Aadhaar, generate PAN and then start using it. With Aadhaar the advantage would be he now does not have to generate PAN. So this is a great convenience,” he said.

First Published: Sun, July 07 2019. 02:34 IST
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