Government has made it mandatory for financial transactions of Rs 50,000 and above. Government has made it mandatory for financial transactions of Rs 50,000 and above. THE GOVERNMENT has made it mandatory to provide Aadhaar numbers while opening bank accounts and carrying out financial transactions of Rs 50,000 or more, according to a notification by the Revenue Department. Read | Here’s how you can link Aadhaar with PAN cardThe government has also tightened the rules for small accounts that can have a maximum deposit of Rs 50,000. The notification comes after the government in Budget 2017 mandated seeding of Aadhaar numbers with Permanent Account Numbers to avoid individuals using multiple PAN to evade taxes.

Source: Indian Express June 16, 2017 15:11 UTC