How not to lose track of your documents

Last week, Renjith Ramachandran, 27, a gym trainer in Mumbai, wanted to deposit Rs.75,000 in his bank account. “My friend had borrowed money from me last year and returned it in cash. Since I didn’t need the cash, I decided to deposit it in my account,” Ramachandran said. As a routine process, the bank asked him to show his permanent account number (PAN) card since the amount was above Rs.50,000. Ramachandran didn’t have his PAN handy. “I didn’t know that I would have to show my PAN. I deposited Rs.50,000 and carried the remaining cash with me,” he said. This is a small example of the inconvenience that can be caused due to lack of a single document.

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