The central government has made it mandatory to link Aadhaar numbers to all bank accounts, failing which, access to the bank accounts will be disabled after December 31, 2017. In other words, Aadhaar-less bank accounts will be frozen after December this year.
Up until 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. Secondly, if a person does not have an Aadhaar number at the time of opening of account, the individual has to