The government is on a mission to weed out black money . The biggest step, Prime Minister Narendra Modi has taken to tackle menace of unaccounted money was to demonetising the high-value Rs 500 and Rs 1,000 currency notes.And over the last one year, the government has introduced various measures to track your money. It became effective from July 1, 2017.The section further states that existing PAN card holders are also required to link their PAN with Aadhaar. As per the new notified rules, the government had made it mandatory to provide Aadhaar details while opening new bank accounts. By not doing, you can risk your bank account becoming unoperational till Aadhaar details are given.

Source: Economic Times November 07, 2017 09:33 UTC