Aadhaar card is a 12 digit unique identification number issued to every Indian resident by UIDAI – Unique Identification Authority of India. It has many benefits to the government as well as to the citizens of India. On linking the Aadhaar card to the bank accounts, the customers can get benefits of various schemes with the government. Both the existing as well as new customers can get their Aadhaar card update with the bank with their own goodwill.
Listed are benefits of linking Aadhaar card to bank account:
Direct Benefit is through the LPG Subsidy. After the LPG consumer number is linked with Aadhaar linked bank account number the cylinder subsidy amount will be directly credited in the bank account. The subsidy amount is the difference between market price and subsidized price of the LPG cylinder. Even if you plan to withdraw from this scheme, the Government will receive financial benefits.
The salary of the workers working under the scheme of MNREGA will also be credited in their accounts directly. This will put a restraint on the fake people trying to get undue advantage.
Apart from LPG, the subsidy on various domestic commodities like Sugar, kerosene oil, pulses, rice etc., will also be credited in the linked account directly. This will help the poor and disabled people as they will not have to end up begging.
The payments towards Tribal Welfare Schemes will also be credited into the accounts of the linked accounts. This will greatly benefit the tribal area people as well as the Government as the money would reach the genuine people.
Students who are enrolled for receiving scholarships from the government, now can only get the money if their bank account is linked with the Aadhaar card.
This is a very strong step taken by the Government of India. These accounts linked with Aadhaar card are accessible from any part of the country. Going forward the consumers will be able to check the exact details from the ATMs as well.