RBI clarifies linking of Aadhaar with bank account mandatory

22 October, 2017, 02:27 | Author: Manuel Hopkins
  • The RBI on Saturday said linking of Aadhaar with bank accounts is mandated under the Prevention of Money-laundering Second Amendment Rules 2017

"The government has issued a gazette notification GSR 538 (E) dated 1 June 2017 regarding Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017, inter alia, making furnishing of Aadhaar (for those individuals who are eligible to be enrolled for Aadhaar) and permanent number (PAN) mandatory for opening a bank account", the central bank said. There were reports in media quoting an RTI query in which RBI had said it "has not issued any instruction so far regarding mandatory linking of Aadhaar number with bank accounts".

Joining the Aadhaar seeding debate, public sector banks' officer union has demanded that mandatory linking of biometric identity number should be put on hold till such time the Supreme Court comes out with a clear directive. The deadline to do it is December 31, 2017.

Banks have of late been flooding their customers with emails and SMS messages, asking them to link their bank accounts with their Aadhaar number.

Earlier in August, the Supreme Court had ruled that Indian citizens have a fundamental right to privacy.

This is unacceptable since the bank staff are overburdened due to inadequate recruitment and increased volume of work of implementing various government schemes, among other things, it said.

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"Dear preferred customer, Govt of India has mandated linking of Aadhaar with your bank A/C". "Though the RTI reply says the RBI did not issue any such circular or notification, it issued has guidelines", he said.

You first need to log onto your bank account.

The apex bank further clarified that in applicable cases, linkage of Aadhaar number to bank account is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017.

That the government is serious about ensuring the linking of Aadhaar with bank accounts is reflected in the fact that every week, the progress on this front is reviewed with all banks by the Finance Ministry and with top bank officials periodically, a banker said.

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