Aadhaar link with bank A/Cs is must: RBI

Report: RBI Says Linking of Aadhar Card with Bank Account is Not Mandatory

The Reserve Bank of India (RBI), in a reply to an RTI query, said that so far it has not issued any instruction on linking the 12-digit biometric number with bank accounts by December 31.

Earlier, The Centre had set a deadline for banks to link customers' accounts to their Aadhaar by December 31 and if the customers do not do this, their accounts will be blocked.

Joining the Aadhaar seeding debate, public sector banks' officer union has demanded that mandatory linking of biometric identity number should be put on hold till the Supreme Court comes out with a clear directive.

While banks have been threatening their account holders to furnish UIDAI-issued Aadhaar to experience seamless banking experience or face suspension of their accounts, RBI has made it clear that it has not issued instructions regarding mandatory linking of the two.

RBI says it is mandatory for banks to link Aadhaar with accounts.

While presenting the Budget of 2017, the central government has already mandated the seeding of Aadhaar number with Permanent Account Number in order to avoid tax evasion.

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This is unacceptable since the bank staff are overburdened due to inadequate recruitment and increased volume of work of implementing various government schemes, among other things, it said.

An RTI query revealed that RBI had not issued a mandate to banks in this regard.

The response indicates that the choice on obligatory connecting of bank accounts with Aadhaar originates from the central government alone and not the RBI.

Finance Minister Arun Jaitley in August had said that 524 million Aadhaar numbers had been linked to 736.2 million bank accounts in India.

The apex bank further clarified 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.

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