Facilitated issuance of 1.1 lakh PAN cards: PayNearby

New Delhi, Nov 24 (PTI) Digital payments network PayNearby on Thursday said it has facilitated the issuance of more than 1.1 lakh PAN cards through Kirana stores in semi-urban and rural areas, including in Uttar Pradesh, Bihar, Maharashtra and West Bengal.

A Permanent Account Number (PAN) is a ten-digit alphanumeric identifier, issued by Income Tax Department. Each assessee, including individual, firm and company, is issued a unique PAN.

PayNearby, a branchless banking and digital network, has registered over 75,000 semi-urban and rural retail counters in the country as agents to facilitate the issuance of PAN cards.

Anand Kumar Bajaj, Founder, MD & CEO of PayNearby, said the availability of PAN card services at a local retail shop has accelerated the uptake of this unique identification.

"We will continue to expand the bouquet of services accessible at our retail stores so that each and every citizen in the country has access to all services as their urban counterparts, and the gap between India and Bharat is bridged forever," he said.

PayNearby further said that with simple documentation and assisted journeys, the company is "gradually addressing" inhibitions that prohibit the large-scale adoption of financial solutions and pushing the masses towards true financial empowerment.

All existing taxpayers or persons who are required to file a return of income, even on behalf of others, must have a PAN.

Any person, who intends to enter into economic or financial transactions where quoting PAN is mandatory, must also have a PAN. PTI NKD NKD BAL BAL