Aadhar card is mandatory for all money transactions in banks from 1st January
Posted on: 03/Dec/2016 10:12:10 AM
The Reserve Bank of India has announced that Aadhar card is mandatory for all money transactions in banks from 1st January.
In connection with this, RBI has sent a circular to all the banks. It has been mentioned: For all banking transactions, Aadhar card has been mandatory from 1st January. Aadhar card should be used for online transactions also. The banks were advised that all new card present infrastructures have to be enabled for both EMV Chip and PIN and Aadhaar (biometric validation) acceptances. Banks should accept Aadhar card for updating KYC. All the bank accounts should be linked to Aadhar card numbers before 30th March 2017. Now Aadhar cars has also been mandatory for railway concessions such as senior citizens concessions etc.
