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RBI CLARIFIES THAT LINKING OF AADHAAR TO BANK ACCOUNTS A MUST

RBI CLARIFIES THAT LINKING OF AADHAAR TO BANK ACCOUNTS A MUST

RBI CLARIFIES THAT LINKING OF AADHAAR TO BANK ACCOUNTS A MUST
October 21
11:47 2017

GOOOGLE NEWS TEAM

New Delhi: The Reserve Bank of India (RBI) clarified on Saturday that it is a must to link Aadhaar number to bank accounts. Dismissing some media reports that it was not necessary to link both, the RBI in a press release said that linkage of Aadhaar to bank accounts is mandated under the Prevention of Money- laundering (Maintenance of Records) Second Amendment Rules, 2017.
A section of media reported quoting a reply to an RTI application that Aadhaar number linkage with bank accounts is not mandatory.
“The Reserve Bank clarifies that, in applicable cases, linkage of Aadhaar number to the 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 RBI said in a press release.

“These Rules have statutory force and, as such, banks have to implement them without awaiting further instructions,” it said.

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