Govt of India made it Aadhaar mandatory to link bank accounts with 12-digit biometric identification number, last date is Dec 31.Linking bank accounts to Aadhaar is mandatory under the Prevention of Money Laundering(Maintenance of Records) Second Amendment Rules, 2017.
In a response to a Right to Information (RTI) Act application filed by Moneylife India and carried by it on October 18, the RBI said: “The Government has issued a Gazette Notification GSR 538(E) dated 1 June 2017 regarding Prevention of Money laundering (Maintenance of Records) Second Amendment Rules, 2017, inter-alia, making furnishing of Aadhaar (for those individuals who are eligible to be enrolled for Aadhaar) and permanent number (PAN) mandatory for opening a bank account. It may be noted that Reserve Bank has not yet issued the instruction in this regard”.
Clarifying its position, RBI in a statement on Saturday said: “…in applicable cases, linkage of Aadhaar number to a 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. These Rules have statutory force and, as such, banks have to implement them without awaiting further instructions.”
The RBI clarified with media reports stating that to a Right to Information (RTI) application that suggested the apex bank has not issued any order for mandatory Aadhaar linkage with bank accounts.
verifying bank account with Aadhaar is safe or not ?
yes,it is safe By adding your bank account details Aadhaar – you are adding an additional part of security-Your bank account info is never transferred to Aadhaar/UIDAI by your bank.
According to the govt, bank accounts that which are not linked to Aadhaar will be frozen if you are not attached your link with adhar and then and after no new accounts can be opened without the 12-digit biometric identity number after December 31.
New rules apply to individual account holders and the authorised signatures and accounts are in the name of companys and partnerships firms.
UIDAI said that over 1,000 bank branches of 42 private and public sector banks had opened Aadhaar enrolment and updation centres within their premises.
and they also said tjat it has received commitments for opening of such centres in 15,000 bank branches at the earliest.
govt had mentioned that link almost complusory to attach with Aadhaar to plug leakages and gaps that exist within the system as India .
it moves towards a digitisation. Aadhaar could be that proverbial ‘silver bullet’ that takes down terrorism, money laundering, black marketeering and other frauds.
on a special note they also stated that people get the subsidies and benefits of government schemes directly in their bank accounts. Moreover, linking bank accounts and Aadhaar will help the government in identifying people who are in need of the subsidies and welfare payments.
you can reactivate your bank accounts ?
The last day to enroll your Aadhaar number with your bank account number is December 31, 2017. you can activate the frozen accounts can be reactivated by linking to Aadhaar details.
finance ministry official said. that – “The money will be safe but the accounts will not be operational. Once the account holder shows the required documents they will be unfrozen,”
Next time onwards if you visit your bank branch for any type transaction/purpose which requires interaction with bank officials, they are likely to insist that you first update your Aadhaar in your records linked to your bank account. bank officials they may even ask you to first provide your Aadhaar card or enrolment ID (if you have applied for Aadhaar but have not received it) before allowing you to conduct any kind of transaction.
How to attach Aadhaar Card link to Bank Account?
you can link Aadhaar cards to bank accounts online and offline.
To link the Aadhaar card to your bank account online, you have to follow below the steps to attach your bank account details to Aadhaar
Login to the internet banking service of your bank -> If you do not have the service activated for your bank account -> you can choose to activate it or you can go through the offline process.
Find the -> ‘Update Aadhaar Card Details’ option -> or ‘Aadhaar Card Seeding’ option and click on it.
On clicking ->you will be directed to another page.
Enter Aadhaar card details —
Click on ‘Submit’.
When you click on ‘Submit’, your details will be saved in the bank’s database.
If you wish to link your card to your bank account offline, you have to fill the Aadhaar to Bank Account Seeding Form and submit it to the bank.
You can download this form from the website of the bank or you can collect it from your bank’s branch.
India’s government will pay an estimated Rs. 113 per person that enrols to get an Aadhaar card. That totals up to about Rs.1,35,76,80,00,000 ( Rs. 13,576 cr) if all of India’s 1.2 billion residents enrol for the Aadhaar card!