SBI customers need to do this by June 30 to avail seamless banking service

India's largest lender State Bank of india (SBI) has intimated the account holders to link their PAN-Aadhaar card by June 30. The Bank has further said that if they fail to do so, they will face difficulty enjoying a seamless banking service.

SBI in a tweet said, "We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service".
Linking of PAN with the Aadhaar is mandatory. If PAN and Aadhaar are not linked, then PAN will be rendered inactive and cannot be quoted for conducting specified transactions. The last date for linking PAN with Aadhaar is June 30, 2021, the tweet further stated.

The government has made several extensions to the deadline since July 2017 to facilitate the linking of the two identity numbers. And, now the last date to link these documents is June 30.

PAN is mandatory for a host of financial transactions including the opening of bank accounts, cash deposits in bank accounts, the opening of Demat accounts, transactions of immovable properties, and dealing in securities. Aadhaar is biometric-based and cannot be obtained based on any other identification document, linking the two is considered crucial for tax administration.

The income tax department might impose a penalty on you if you fail to link your PAN card with your Aadhaar card within the deadline. You will not only be liable to pay a fine of up to Rs 1,000 but your PAN will also become invalid.