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Aadhaar-Bank Account Linking mandatory: RBI
By: Tupaki Desk | 22 Oct 2017 4:49 AM GMT
A Website filed an Right To Information (RTI) query seeking clarification whether RBI issued any notification seeking linking of Aadhaar and Bank Accounts.
In response to the RTI Query, Reserve Bank of India made it clear linking Aadhaar with Bank Account is mandatory under the Prevention of Money-Laundering Second Amendment Rules, 2017.
On June 1st this year, Centre issued Gazette Notification GSR 538 (E) making Aadhaar and Bank Account linkage mandatory. RBI hasn't issued any circular or notification in this regard. It's just following the order issued by Centre asking banks to comply with the guidelines.
The move to link Aadhaar and Bank Accounts is intended to curb money laundering. This is another step in the fight against Black Money by the Narendra Modi Government.
In response to the RTI Query, Reserve Bank of India made it clear linking Aadhaar with Bank Account is mandatory under the Prevention of Money-Laundering Second Amendment Rules, 2017.
On June 1st this year, Centre issued Gazette Notification GSR 538 (E) making Aadhaar and Bank Account linkage mandatory. RBI hasn't issued any circular or notification in this regard. It's just following the order issued by Centre asking banks to comply with the guidelines.
The move to link Aadhaar and Bank Accounts is intended to curb money laundering. This is another step in the fight against Black Money by the Narendra Modi Government.
