Linking Aadhaar with Bank Account not mandatory yet: RBI reveals in RTI.

It’s been a long anticipation whether or not Aadhaar card is going to be linked with our bank accounts or not? If nothing, the banks are at a larger hurry to do so, it seems. For they are constantly warning and threatening bank account holders to furnish the UIDAI- issued Aadhaar service to experience the privilege of seamless boundaries in their banking experience. If not, the bank will suspend their accounts as stray and unkempt bank accounts. This entire saga of the bank’s guiding its customer on service which is yet to go live has taken people on a deep end of thinking. Finally, the RBI has chosen to address the issue, the new revelation received by the RBI says that it has not issued any instructions with relation to the mandatory linking between a Bank account and Aadhaar card. This was an answer to the Right to Information filed by a news website; money which took to RTI amidst the entire stir caused by various banks.

The RBI has stated the following statement when asked about a mandatory linking of Aadhaar number go their bank account, ‘the Government has issued a Gazette notification GSR 538(E) dated back to 1 June, 2017 which is in direct regard to the issue concerning money laundering under the Second Amendment Rules, 2017, Interalia, making furnishing of Aadhaar and Permanent number (PAN). Note that all of this is for those candidates those are eligible to enroll for the Aadhaar card service’. But as the revelations are made, it should be noted that there is no update issued by the RBI on a firm instruction for the same.

Resources believe that it might take a little longer than any sooner for this linking to begin. The RBI has not even filed a petition with the Supreme Court on seeking an explicit permission for the linking of Aadhaar card and Bank accounts which is a legal process that can take up to as long as you can imagine. RBI stated this as the answer to the RTI which tells that RBI is still in thorough conversation regarding its decision on the linking.

This is a clear tell-tale that government and the RBI are simply not following each other on the same page. As it has been going on for a year, the government and its fight against tax evasion, the government insists on linking Aadhaar to bank accounts. The center has clearly made it mandatory to quote Aadhaar number for opening or continue using any existing bank accounts under the 135 schemes of 35 ministers which also includes distribution of free LPG cylinders, kerosene, and fertilizer subsidy for poor and below poverty line households.

However, not forgetting to mention that Supreme Court has made its intentions clear on the Aadhaar card by restricting its usage to the six schemes where the government has promised benefiting subsidy to various individuals.

Article by Pooja.

Linking Aadhaar with Bank Account not mandatory yet: RBI reveals in RTI.


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