Aadhaar linking deadline- FM Sitharaman sets out bank account

Union minister of finance Nirmala Sitharaman on Tuesday asked all banks to make sure all bank accounts are Aadhaar-seeded by March 31, 2021 and linked with PAN cards wherever necessary.

Addressing the annual general meeting of the Indian Banks’ Association Tuesday, the minister of finance said, “Ideally by December, if not by March 31, 2021, every account should have a PAN where needed and applicable and Aadhaar in every case.”

Sitharaman also advised banks to issue RuPay cards because of the first choice to customers. Urging bankers to market RuPay cards, she said National Payments Corporation of India can become a brand India product. Whenever issuing a card, you want to first issue a Rupay card, the minister of finance said in her virtual address.

She said there shouldn’t be any unverified account within the system. “I won’t twiddle my thumbs to listen to that there still exist accounts which aren’t Aadhar seeded, and linked with PAN cards wherever needed beyond New Year’s Eve. The deadline might be extended till March next year at the utmost, she clarified later. Sitharaman said the financial inclusion story isn’t over and banks still have inclusion to hold forward.

Centre releases Rs 6,195 crore to 14 states

New Delhi: The Centre has released Rs 6,195 crore to 14 states as a monthly instalment of post-devolution revenue deficit grant.

“Based on the 15th Finance Commission interim recommendations, the govt. has released Rs 6,195.08 crore to 14 states on account of the eighth equated monthly instalment of Post Devolution Revenue Deficit Grant,” Office of a minister of finance Nirmala Sitharaman tweeted.

The 14 states are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal. —With PTI

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