Linking Aadhaar card number to bank accounts mandatory in applicable cases: RBI

22 October, 2017, 02:30 | Author: Franklin Nunez
  • The Indian Banks’ Association has questioned the UIDAI's authority in directing banks under the Aadhaar Act

The Reserve Bank of India (RBI) "has not issued any instruction so far regarding mandatory liking of Aadhaar number with bank accounts, even as banks continue to remind customers of the December deadline for linking Aadhaar with their bank accounts, reveals an RTI reply".

Mumbai: The Reserve Bank of India (RBI) on Saturday dismissed media reports that it was not necessary to link national identity card numbers, known as Aadhaar numbers, to bank accounts.

Posing a fresh challenge to Aadhaar, a writ in the Supreme Court has questioned the constitutional validity of the Reserve Bank of India's decision to make its linkage with bank accounts mandatory, adding strength to pending pleas challenging the unique identification on the grounds of violation of privacy.

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In an RTI query filed by Moneylife.in the RBI said that they have not given any notification to link the 12-digit biometric Aadhaar with bank accounts by December 31, 2017. Sources in banks said some customers have been holding out on linking their accounts with Aadhaar, waiting for the Supreme Court verdict on the legality of the government order. The Aadhaar number can be linked to the account number online, too.

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. In a note to the government and the RBI, IBA has said that under the Banking Regulation Act, only the RBI is empowered to issue directives to banks.

This linking of Aadhaar to bank accounts is a process over and above the Know Your Customer (KYC) norms already followed by the banks.

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In an earlier statement in 2016, Venkaiah Naidu, Minister for Information and Broadcasting said, "Use of Aadhaar will eliminate corruption, ensure hassle-free and faster and direct delivery of benefits into bank account, or in kind, without any intermediaries and diversions".

This is made under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017.

Click on the above link and you will be navigated to another page that would ask you for your Aadhaar number.

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