If you have opened your bank account between July 2014 and August 2015 and do not want your account to be blocked by the bank, rush to the bank to link your account to your Aadhaar number. The Income Tax department has declared that the accounts opened in this period have to submit their Know Your Customer (KYC) documents and Aadhaar number by 30 April, failing which the account will be blocked. Insurance and stock accounts have also been included in the order. The move comes after Aadhaar number linkage was made mandatory for mobile numbers and tax filings. The step would help track tax evaders through the Foreign Tax Compliance Act (FACTA) — a pact signed between India and the US to trade tax related information.
It is to link your all account for authenticity with Aadhaar card as this card is the only identity where your biometrics are saved and soon PAN card will be compulsory for each account holder as PAN card and Aadhaar card are compulsory to open any new account. Aadhaar card must be added because further there may be services like Fingerprint on every ATM machine so no need to carry card to withdraw money as just use thumb and do the transactions. It would be safe and there will no worry about stealing of information. Moreover, while making passport there will be benefit of Aadhaar card the most. If you have an Aadhaar card, you can get passport in just 10 days. Under this format, police verification will be done at a later date as opposed to the previous rule requiring police verification, which used to be time consuming. Also, under the new government’s rule, if you need a passport, Aadhaar number is compulsory.
Meanwhile, Aadhaar card’s UIDAI number would be linked to the voter IDs. This action is taken to eliminate bogus voters. Once an Aadhaar number is linked, it would become impossible for a multiple voter ID card holder to make it’s illegal use, as registration requires voter card holder to be physically present and produce Aadhaar card to the polling booth officer for linking. There are many advantages and disadvantages of Aadhaar card, but one move towards betterment is always good for the nation.
Aadhaar card is basically a unique identification system for Indian citizens. Each registrant who applies is entitled with a unique Aadhaar number, by the Unique Identification Authority of India (UIDAI). The basic purpose of UID is providing a unique identification platform for every Indian citizen. Identification of criminals through fingerprints is now easier. It serves as a perfect anti-corruption measure as well. Moreover, this might even help government to track those multiple accounts opened by one person on various pan cards. By attaching Aadhaar with bank account can bring down lots of black money and benami account transitions. It also eliminates fake identities in previous unreliable public databases. It makes it easier to track down illegal immigrants residing in our country. This is one good move for the people who are living with honest income and hard earned money.
Earlier, UID serves was an alternative identity measure for weaker, illiterate sections of the community, who are deprived of public services such as Banking, Subsidy etc. due to lack of proper identity proof. However, recently it becomes a vital document. The 12-digit individual identification number issued by the Unique Identification Authority of India on behalf of the Government of India has become identify of a person. Each Aadhaar number will be unique to an individual and will remain valid for life. Aadhaar number will help you provide access to services like banking, mobile phone connections and other Governmental and Non-Governmental services in due course.
According to the Honorable Supreme Court of India, Aadhaar card is not mandatory for availing any government services, then why does every bank keeps on insisting to link Aadhaar with bank account, no one knows. Is it for snooping on bank accounts by Finance Ministry of India? There is maximum population who may not be interested or want any government subsidy.
Aadhaar programme was launched in 2009 by Congress government, with a main objective to give universal identity to every resident Indian. However, in the initial stages of enrolment people faced lot of difficulties such as technical snags, incorrect data displayed etc. and also the importance of Aadhaar card was unclear. Then BJP government in opposition and Narendra Modi strongly opposed the usages of Aadhaar and they demanded ban stating the privacy issues. Later on, many issues were resolved and even new BJP government suddenly realized the importance of it. Now, even PM Modi is boasting and wanted to link everything with Aadhaar card. He forgets that he strongly opposed the scheme launched by Congress government led by Dr. Manmohan Singh. I hope, at least now BJP has realized that what UPA government has done was appreciable. And now BJP is ‘baking its bread’ on their preparations.
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