Linking Bank Account with Aadhaar Card

[Sushubh]

Find a different news source.

 

[ijsa]

RBI clarifies why linking of Aadhaar with bank account is mandatory

"The Reserve Bank clarifies 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 published in the Official Gazette on June 1, 2017.," the central bank said.

RBI... again tries to confuse & scare people with ambiguous language...

 

[Sushubh]

AADHAAR: New petition in SC challenges RBI order for linking Aadhaar with bank account - The Economic Times

rbi has issued a press release. not a direction to banks. and they do not mention any guidelines issued by themselves. they refer to an act which was amended. which is not a new development. the rti response is still accurate. rbi has not made aadhaar linkage with bank accounts mandatory. they have not issued any directions to the bank. this did not change anything.

 

[Sushubh]

Reserve Bank of India - Press Releases

 

[Sushubh]

about applicable cases... someone mentioned on reddit that the requirement is not applicable on basic accounts which cannot have more than 2 lakh rupee deposits. not sure if this is accurate or just speculation. i know of restricted bank accounts with 1L limitations. haven't heard about any restricted bank accounts with limitations of 2L rupees.

 

[geek]

Can we expect some relief from SC in November ?

 

[Sushubh]

in november, supreme court would decide the constitutional nature of these mandatory orders. even if they do rule against the government... it is probably not stop the government to continue with the bullshit. the only way things can return back to normal is if supreme court labels the entire project as unconstitutional and order to shut it down which is unlikely to happen.

 

[Sushubh]

here are two relevant pdfs:

Source


Source

here is a good reddit comment on the same:

Source

 

[geek]

in november, supreme court would decide the constitutional nature of these mandatory orders. even if they do rule against the government... it is probably not stop the government to continue with the bullshit. the only way things can return back to normal is if supreme court labels the entire project as unconstitutional and order to shut it down which is unlikely to happen.

sigh!

 

[Sushubh]

Put mandatory Aadhaar linking with bank accounts on hold: AIBOC – The Indian Express