RBI: It is mandatory to link Aadhar card with bank savings account
Posted on: 22/Oct/2017 11:32:03 AM
The Reserve Bank of India has come up with an explanation that it is mandatory to link Aadhar card details with the bank savings account under the Money Laundering Prevention Act.
An order has been issued by the central government that Aadhar card is essential to avail the various welfare schemes and benefits.
It has also been announced that all the existing bank saving account holders and those opening a fresh account will have to furnish the Aadhar card details to link with the bank savings account.
Earlier today, there was an information released in the media that the RBI has informed that it is not mandatory to link Aadhar card with the bank savings account as under the RTI (Right To Information). This stands corrected now.
RBI has come up with a clear explanation. There is media news informing that it is not mandatory to link Aadhar card with the bank savings account. However, as per the government journal released on 1st June 2017, it is mandatory to link Aadhar cards with bank savings accounts under the Money Laundering Prevention Act.
Now, the banks need not wait further and should issue a clear-cut instruction for linking Aadhar card with the fresh and existing bank savings accounts.
