In today’s times, it is very important to have full control over your financial activities. Thanks to technology and the digitisation of payments, the variety of financial transactions has broadened considerably. In addition to the older form of payments, the RBI also came up with guidelines to Monitor the new ones. Having an understanding of the newer guidelines and the traditional means of payment is extremely beneficial.
In the traditional form of payment, we will explain how to fill cheque. For the newer forms of payment, we will discuss the importance of linking your Aadhaar card with your bank account. Let’s take a look at the newer one first.
Linking Aadhaar Card to Bank Account
Aadhaar Card number is a form of identity verification stored with the Government of India. Linking it with your bank account verifies your identity. Banks are required to know this due to RBI guidelines that are set to promote and enhance financial security. Individuals must comply with these responsible banking practices if they want to gain control of their financial activities.
This is because if you do not verify your bank account via Aadhaar linkage, you miss out on many features and benefits. For example, individuals who link their Aadhaar number to bank gain can access their accounts from anywhere in the country. Another benefit is that refunds on income taxes are paid All features and benefits of the account, including transaction and credit limits are unlocked only post verification becomes much easier.
These kinds of benefits make your banking experience seamless and enjoyable. There are even more benefits to Link aadhaar number with bank account online.
Government subsidy benefits are credited directly to your account for items such as kerosene, LPG, sugar, and more. This also applies to various government welfare grants, pensions, and scholarships.
Aadhaar-enabled accounts are seen as secure because an Aadhaar number is issued to an individual only after UIDAI has completed the necessary verification. Assists with the KYC procedure, which you need to complete to gain full access to your banking services.
Link Aadhaar Number with Bank Account – Net Banking
– Open your Net Banking website and log in.
– Search for the “Update Aadhar Card Details” or the “Link your Aadhaar Card option.
– Enter your Aadhaar Card details.
– Request generation of OTP and enter the OTP you receive on your registered mobile number.
Mobile Application
– Log into your bank’s mobile app using your login details.
– Search for the relevant option under the “service request” section.
– Provide your Aadhaar Card details and submit your details.
– Wait for confirmation.
Phone Call
– Give a missed call to the number your bank provided.
– Your bank will call back, and a recorded voice will register your request.
– Enter your 12-digit Aadhaar number. Soon, you will receive an SMS informing you that the procedure is complete.
– You will receive an SMS on your registered mobile number upon confirmation. You can also link your Aadhaar number to your bank account through mobile banking.
How To Fill a Cheque
Cheques are still a popular form of payment. That’s why it is useful for individuals to know how to write one. Individuals can use cheques to transfer funds and complete payments.
Steps:
– In the check’s pay section, write the payee’s name. Ensure that the name is spelled correctly. To ensure that the title cannot be altered, you should draw a line in the remaining space.
– In the space below, write in words the amount to be debited. Draw a line after in the left-over space.
– To the right of the cheque, put the amount to be paid in its numeric format. Again, draw a line on any left-over space to prevent any changes or tampering.
– Write the date on which the amount needs to be debited
– Check that you have written the amount correctly for both the numeric and word format. Any mistakes will result in the cheque bouncing.
– Sign off on the cheque using your authorized signature.
CONCLUSION
These simple banking practices can make life much easier for individuals. Linking your Aadhaar Card to your bank account is the best way to receive benefits. Knowing how to fill a cheque is extremely useful even though payment methods have broadened and diversified.