If you have an account with State Bank of India (SBI), it is important that you read this news. In fact, State Bank of India has issued notice to its customers. The bank has told your account holders to link the PAN-Aadhaar card by June 30. The bank said that if customers are unable to link to PAN-Aadhaar, they will have trouble enjoying many banking services.
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If the PAN and Aadhaar are not connected then there will be a problem of withdrawing money
SBI tweeted this information. The bank tweeted that linking Aadhaar and PAN is mandatory. If the PAN and Aadhaar are not connected by June 30, the PAN will be deactivated and customers will have trouble with the transaction. The tweet stated that if the PAN and Aadhaar are not connected, the PAN will be deactivated and the customer will not be able to withdraw their money after that. Also, there are no government scheme benefits available or any subsidy available. The last date for linking PAN with Aadhaar is 30th June 2021.
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PAN card is essential for all these things
Explain that PAN is mandatory for opening a bank account, depositing money in bank accounts, opening a demat account and for many financial transactions. If you fail to link your PAN card with your Aadhaar card within the time limit, the Income Tax Department can penalize you. You don’t have to pay fines of up to ₹ 1,000 but your pawn is also invalid.