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Benefits of Linking Aadhar Card with Bank Account : Aadhaar Card is an important Card issued by UIDAI in accordance with Government of India. It is a 12 digit unique identification number (UID) which can be owned by any Citizen of India. It has a lot of benefits. Nowadays, a lot of Banks have been telling their customers to link Aadhaar Card Number to their Bank Accounts. This is to ensure that you can make use of every benefits which can be availed after linking Aadhaar Card to your Bank Account. In order to link your Aadhaar with your Bank Account, you need to provide a consent for Aadhaar seeding at your Bank’s Home Branch. No matter if you are an exiting customer of a Bank or you are opening a new account, you can seed or link you Aadhaar Card to Bank Account at any point of time.
The main question still is what are the benefits of linking Aadhaar Card Number with Bank Account ? We will now tell you about each and every benefit you can avail after linking Aadhaar Card with your Bank Account.
Why to Link your Aadhaar Card with Bank Account ?
The most important benefit of seeding the number is receiving the social welfare scheme payments, and other benefits from various schemes run by government of India. Here are the schemes and benefits :
1) Direct Benefits Transfer of LPG (DBTL)
To make use of DBTL (Direct Benefit Transfer of LPG or PAHAL (Pratyaksh Hanstantrit Labh) the consumers needs to fill up a form which is available with distributors and also on www.mylpg.in. The consumers have to provide their Aadhaar number to LPG distributor and also to the Bank.
Once the LPG consumer number is linked, the Subsidy Amount of LPG Cylinder is credited directly to the Aadhaar linked bank account. The difference between the market price and subsidized rate which is the subsidy amount is credited to the bank account of the consumer. You have the option to give up LPG subsidy at any point of time.
2) Subsidy for Commodity products
Once you link your Aadhaar Card with Bank Account, not only you get LPG Subsidy in your Bank Account but also subsidy for wide range of commodity products. These commodity products are as kerosene, sugar, rice, pulses etc. The subsidy amount for all the subsidized commodity products also gets transferred to the Aadhaar linked Bank Account.
3) MNREGA(Mahatma Gandhi National Rural Employment Guarantee)
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is a law which says that any adult who applies for a Job in rural areas needs to be given work on local public works within 15 days. In case the employment is not given, unemployment allowance has to be paid.
All people working under MNREGA will also get their wages credited directly to their bank accounts.
4) Tribal Welfare Schemes & Pensions
All people associated with Tribal Welfare schemes and Pension takers can also get their Payments directly credited to the aadhaar linked bank account.
5) Scholarship
All the students who receive scholarship from the state or central government can get their Scholarship amount credited to their bank accounts. This can be done only if the bank account on the name of the student is linked with their Aadhaar Number. This linking of Aadhaar with Bank Account to receive scholarship amount is mandatory only in a few Indian states.
6) Country wide access
The online inter-operable system of Aadhaar Enabled Payment System (AEPS) helps a resident to access his bank account from anywhere in the country and in the coming future, the bank account will be accessible through any delivery channel e.g. ATMs, microATMs etc.
7) Helps to Reduce Leakage of Government Spending
Aadhaar enabled accounts helps reduction in leakages of government spending.
Final Words :
These are some important benefits you get by linking your Aadhaar Card to Bank Account. To make full use of one more of these benefits you must link your Aadhaar Card with your Bank Account. In future, Government is planning to introduce more beneficial schemes for residents of India. So, what are you waiting for ? Link you Aadhaar Card to your Bank Account now !
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