You’re ready to apply for a government subsidy, hoping it will provide some relief. But as you go over the requirements, you notice something critical—your savings account needs to be linked with Aadhaar. Since you’ve been using a zero-balance savings account, you wonder how to complete this step without any hassle. Here’s everything you need to know to link your Aadhaar with your zero-balance digital savings account and access those subsidy benefits.
What are government subsidies?
Government subsidies are financial support provided by governments to lower costs for individuals or businesses. They can take forms like cash payments, tax breaks or reduced prices on essential goods and services, aimed at making things more affordable and boosting economic growth.
Benefits of government subsidies
Government subsidies help in the following ways:
Individuals
Government subsidies can make essential goods and services more affordable, particularly in sectors like healthcare, education and housing. For instance, subsidies on health insurance premiums make it possible for families to afford healthcare, especially for those with lower incomes. Additionally, educational subsidies, like reduced interest on student loans, can make higher education accessible to more people. Subsidies on basic utilities, such as energy and transportation, also help reduce living costs, making daily expenses more manageable for individuals.
Businesses
Subsidies often play a critical role in business growth and competitiveness. In the energy sector, for example, subsidies encourage the development of renewable sources like solar and wind, driving down costs and promoting environmental sustainability. Agriculture is another sector that heavily benefits from subsidies helping farmers manage risks associated with weather and market fluctuations, ensuring food security and stable prices. Furthermore, subsidies for sectors like automotive and technology support innovation by making it feasible for companies to invest in new technologies, boosting economic growth and creating jobs.
Different ways to link your Aadhar with a zero-balance savings account
With a missed call
If your bank supports it, give a missed call to the designated number. You’ll receive a confirmation message once your Aadhaar is linked.
With an SMS
From your registered mobile number, send an SMS in the format: UID <Aadhaar Number> <Account Number> to the bank’s designated number. You’ll get a confirmation of your request and a follow-up once the linking is complete.
At bank branch
Visit your bank with your Aadhaar card. Fill out the linking form, submit a self-attested Aadhaar copy and present the original for verification. You’ll receive a confirmation once processed.
With net banking
Log in to your bank’s online portal. Under the ‘Services’ tab, choose ‘Update Aadhaar’ and enter your Aadhaar number. You’ll get a notification after successful linking.
At ATM
Insert your ATM card, choose ‘Registrations’ and then ‘Aadhaar Registration’. Enter and confirm your Aadhaar number. A confirmation message will follow.
With mobile banking app
Open your bank’s app, go to ‘Services’ and select ‘Update Aadhaar’. Enter your Aadhaar number and submit. You’ll receive a confirmation message when it’s linked.
How to check the Aadhar linking status?
To check if your Aadhaar is linked to your bank account, you have a few simple options:
- Via SMS: Send an SMS with your Aadhaar number to the bank’s specified number. If linked, you’ll receive a confirmation.
- Using Bank’s Website/App: Log in to your account and find the Aadhaar status check option under account services.
- Through UIDAI’s Website: Visit the UIDAI site, select “Check Aadhaar/Bank Linking Status” and enter your details.
Endnote
Linking your Aadhaar to your bank account opens up many benefits beyond easy access to subsidies. It streamlines government transactions, enhances security and makes receiving funds quicker with direct benefit transfers. Additionally, it simplifies account verification and ensures eligibility for various services. Enjoy faster banking and more government benefits with Aadhaar linking.
