SBI Alerts Its Customers To Take This Step For Using Seamless Banking Transactions

The timeframe for linking the Permanent Account Number (PAN) with the Aadhaar card has recently been extended by the government to September 30, 2021. You potentially experience difficulties with banking services and certain financial transactions if your Aadhaar card and Permanent Account Number (PAN) card are not linked. According to Clause 41 of Section 139AA of the Income Tax Act, if the PAN card and Aadhaar card are not linked on or before the timeframe, the PAN card would become invalid or "inoperative."

To minimize any trouble, banks have begun requesting customers to link their PAN and Aadhaar numbers as soon as possible. If a person fails to do the same, he or she would be subject to a penalty of up to Rs 1,000. Regarding the same, the largest commercial bank of the country State Bank of India (SBI) today has issued an important alert for its customers. SBI via its Twitter account alerts its customers that "We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service."

For a major update for the customers SBI has further added that "If not linked, PAN will be rendered inoperative/inactive and cannot be quoted for conducting specified transactions." To minimize the same SBI customers can link their PAN with Aadhaar number by visiting www.incometax.gov.in and click on the 'Link Aadhaar' tile, according to SBI. The bank has also made it clear that "the last date is 30th September 2021. Link it soon to avoid any inconvenience."