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'Linking Aadhaar with bank accounts mandatory': RBI's diktat has Twitter divided

22 October 2017

The Reserve Bank of India (RBI), in a reply to an RTI query, said that so far it has not issued any instruction on linking the 12-digit biometric number with bank accounts by December 31. And the RBI clarified that linking up of Aadhar card with bank accounts is not mandatory from now onwards.

Meanwhile, the RBI said that the anti-money laundering rules have to be implemented by the banks without any further delay.

Responding to the query, the RBI stated: "The government has issued a Gazette Notification GSR 538 (E) on June 1, 2017 in connection with the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, 2017, interalia, making furnishing of Aadhaar and Permanent Account Number (PAN) mandatory for opening a bank account".

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Reports said that a Website named Money life had got such a response from the Reserve Bank as a response to an RTI.

Supreme Court will still hear the plea to not mandate Aadhaar linkage to bank accounts.

However, the banks started pushing for Aadhaar and bank accounts to be linked since June when an official government notification said that if customers failed to link Aadhaar to bank accounts the latter would be invalidated.

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The RBI, in its reply, said it has not filed any petition before the Supreme Court, which has said Aadhaar is not illegal and privacy is not absolute.

The press release by the Reserve Bank of India makes it clear that it is compulsory to link Aadhaar and the Bank Account.

The centre had earlier made it mandatory for more than 50 centrally-sponsored schemes. The Central Government had added in its order that if the existing bank account holders do not submit their Aadhaar number to the concerned bank, the transaction through the account would be stopped or suspended. Telecom service providers too have been alerting their customers to link their mobile numbers with their Aadhaar numbers by February 6, 2018, citing a circular issued by the Department of Telecom (DoT).

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'Linking Aadhaar with bank accounts mandatory': RBI's diktat has Twitter divided