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Sunday 22 Oct 2017 10.36 AM

Aadhaar linkage with bank accounts mandatory, says RBI

Aadhar linkage, RBI

Mumbai: Reserve Bank of India said biometric identity number Aadhaar linkage with bank accounts is mandatory.

The RBI clarification followed media reports quoting a reply to a Right to Information (RTI) application that suggested the apex bank has not issued any order for mandatory Aadhaar linkage with bank accounts.

"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 in a statement.

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

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