The most common benefit of linking your Aadhar to your bank account is getting payments on social welfare scheme and government of India runs several schemes for different benefits, such as –
Benefits to Citizens
- Subsidy for Gas Cylinders and Commodity – There is different commodity products like gas cylinder, kerosene, sugar, pulses, rice and several products whose subsidized amount is transferred to your account linked to Aadhar card.
- Direct Benefits Transfer (DBTL) – The subsidy amount of LPG cylinder is credited directly to the bank account linked by Aadhar if your consumer number is linked. The difference between the subsidized rate and market price is credited to your account. To further benefit the government, there is an option to give up LPG subsidy to help the poor.
- MNREGA – Under Mahatma Gandhi National Rural Employment Guarantee scheme, the wages are credited directly to the workers’ bank account.
- Tribal Welfare – In these schemes, payments will be credited to the account linked to Aadhar card.
- Remote Access – Aadhar-linked accounts can be accessed anywhere in India and customers can access via ATMs
- Scholarships – Students who get scholarships from the government can get the amount credited to their account if it is linked to their Aadhar number. However it is mandatory for students from select states in India.
- After linking aadhar check bank and aadhar linking status here http://www.checkaadharcardstatus.in/
Benefits for Government
Linking Aadhar card to your bank account is good not just for you, but also for the government. There are different advantages like welfare subsidies are provided to the genuine beneficiary. Because of having no identity, fake people were able to get the benefits that can duplicate the identity. As a result, disabled and poor ended up without benefits. This way, subsidy reaches only to the genuine person. There are several banks having facility to link Aadhar, such as State Bank of India, Axis Bank, HDFC Bank, IDBI Bank, Bank of Maharashtra etc.