NIC Asia Bank Urges Customers to Update Permanent Account Numbers

NIC Asia Bank is urging its customers to update their Permanent Account Number (PAN) in their accounts. This update is required for tax deduction purposes as per the Income Tax Act 2058.

Customers can update their PAN through the bank's portal or mobile app by selecting the "PAN Update" option. They can also apply for PAN renewal at any bank branch.

Updating the PAN will ensure that tax deductions are correctly recorded in the E-TDS system, simplifying the process of obtaining tax certificates and avoiding the need for in-person visits to the bank.

The bank will not be responsible for any issues arising from un-updated PANs affecting tax filings. Customers with previously provided PANs should contact the bank if details are missing.

NIC Asia Bank operates 360 branches, 670 ATMs, 118 extended counters, and 51 branchless networks nationwide, serving about 25% of the economically active population and contributing significantly to government revenue. The bank continues to expand its presence in rural and underserved areas to promote financial inclusion.