3 Replies to “Why PAN need to be mentioned to make a deposit of more than 50000 rupees in Indian banks?”

  1. Banks ask for PAN number when you deposit more than 50,000 rupees as PAN number is currently used to track the details of a person. By using PAN number, the details of all the transactions can be tracked easily. The same PAN number is used commonly for all financial instruments, so tracking is easy.

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