18:I[999541,["/_next/static/chunks/611551a8c00a6925.js","/_next/static/chunks/8edff94042b62725.js","/_next/static/chunks/1b3eff317ef20496.js","/_next/static/chunks/308dd1b4c08b6e6d.js","/_next/static/chunks/05409cc414285f84.js","/_next/static/chunks/d359ffb39781db47.js","/_next/static/chunks/5daa86d649582ef0.js","/_next/static/chunks/27b3fa537e10afb2.js","/_next/static/chunks/6c013cd9260efadb.js","/_next/static/chunks/dd04f746285e8876.js"],"default"] 19:T442,

J&K Bank PAN-Linking Issue

An Income Tax probe found that 1.54 lakh J&K Bank accounts (2021–2024) were opened without PAN linkage.

These accounts recorded transactions worth ₹4.88 lakh crore (accounts with annual transactions of ₹15 lakh or more).

The Income Tax Department termed it a "systemic failure" and a significant red flag, citing the risk of tax evasion and money laundering.

Most accounts were opened using Form 60, which allows individuals without a PAN to open bank accounts under specified conditions.

J&K Bank stated that it has submitted a compliance report to the RBI.