Wednesday, August 23, 2017

Aadhaar and Bank Account

AADHAAR and BANK ACCOUNT

Aadhaar Seeding/Linking with Bank Account

If Bank Account is Seeded/Linked to Aadhaar - it facilitates credit of various Govt. sponsored subsidy/benefit schemes such as DBT, MGNREGA directly in Bank accounts through Aadhaar Payment Bridge System (APBS).

Aadhaar Updation in Bank Account

If Aadhaar is updated in Bank Account -  Aadhaar Number is updated only in Bank records and cannot be used for receiving credits of Govt. sponsored subsidy/benefit schemes.

Moral of the Story

You should Seed/Link Aadhaar to only One Bank Account where you want to receive Govt Subsidy/Benefit/Pension etc.

However - You may Update Aadhaar in all your Bank Accounts

(Above based on information recieved from my Bank)

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