You can now use your Aadhar card for cash transactions over Rs 50,000

It's official, now you can use your Aadhar card for cash transactions above Rs 50,000 and all other purposes where previously PAN card was a must. Banks and other institutions will make backend upgrades to allow acceptance of Aadhar in all places where PAN was mandatory. Aadhar card is backed by biometric data of individuals. There have been several examples of people who have quoted a wrong PAN or obtained a PAN fraudelently.