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

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

The government has made Aadhar card compulsory for opening new bank accounts and making a transaction above Rs 50,000 with effect from July this year. The union government has said it would extend until December 31 the deadline to furnish Aadhaar to avail benefits of social welfare schemes. In its reply RBI said it had not filed any such petition before the Supreme Court.

Mumbai: While reports of the Reserve Bank of India (RBI) not issuing any notification with regard to linking of bank accounts with Aadhaar went viral, the central bank on Saturday cleared the air saying the linkage is mandated under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017. 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.

Earlier in August, the Supreme Court had ruled that Indian citizens have a fundamental right to privacy. "It's not the government's business to prescribe what banks and their customers should do", a customer complained.

The RTI query had asked the RBI to provide a copy issued by it for mandatory linking of Aadhaar number of their customers with their bank account.

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The Reserve Bank of India (RBI) has recently revised the conditions on linking up the bank account with Aadhar card.

"Dear preferred customer, Govt of India has mandated linking of Aadhaar with your bank A/C".

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.

An article calls attention to that the Section 7 of the Aadhaar Act says giving the Aadhaar number is required for accepting advantages or services for which use originates from Consolidated Fund of India.

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