Bank accounts

#1 Apr 1st, 2017, 18:11
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  • bert49uk is offline
#1
Was reading on another forum, that all bank accounts from non Indians have been frozen and you need a PAN to be able to use bank account , any truth?
#2 Apr 1st, 2017, 18:27
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My boss (Indian born American Citizen) and his better half are currently in India. He has opened a joint (NRO) account, he has a PAN card and the better half does not. He can operate the account whereas the better half can not unless she has a PAN card.
#3 Apr 1st, 2017, 18:28
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#3
Seems to be a rumor...

Have not heard of it nor any media has reported it...
#4 Apr 1st, 2017, 19:03
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#4
When I opened my NRO/NRE bank accounts in 2007, I had to provide a PAN number.
#5 Apr 1st, 2017, 19:16
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#5
PAN card is now compulsory for bank accounts except basic savings bank deposit account and Jan dhan accounts. Everyone had to link PAN or form 60 to their accounts by Feb 28th.

So it might be true and accounts may have been frozen unless linked to PAN or form 60 is provided.
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#6 Apr 1st, 2017, 20:51
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#6
Quote:
Originally Posted by bert49uk View Post Was reading on another forum, that all bank accounts from non Indians have been frozen and you need a PAN to be able to use bank account , any truth?
Some time ago all account holders had to go through a so-called KYC (=know your client) process which required (among other documents) a PAN card. It seems a fairly straightforward thing for persons residing outside India to get a PAN card. I got mine in 2010 and it only took a few weeks. Now it seems the PAN card is going to become redundant and persons persons with residence outside India are going to be left high and dry.

Aadhar card for OCI

They might relent as far as NRIs (=non-resident Indian passport holders) are concerned as they did with holders of "specified" currency notes.
#7 Apr 25th, 2017, 06:56
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#7
I have a question regarding Bank account and filing e-KYC

It's in the kyc thread. Since did not want to cross post here, I have just provided a link to that thread/post. I do have a PAN card but I am not sure whther the bank has a copy of my PAN card. When uploading documents required for proof I could only upload one document per item.
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