RBI - Not mandatory to link Aadhar card with a bank savings account
Posted on: 21/Oct/2017 3:06:46 PM
The central government had announced in June that Aadhar card will be mandatory to open a savings account in banks.
Also, Aadhar card details were mandatory for financial transactions over Rs. 50000.
As per the central government order, the people who hold the savings account in banks will have to furnish Aadhar card details before 31st December. Otherwise, the concerned savings accounts will be closed.
In this situation, an explanation was sought in a private webpage regarding the linking between Aadhar card and bank savings account. The Reserve Bank of India replied to this query categorically stating it is not mandatory to link Aadhar card with the bank savings account.
