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RBI clarifies: Linking Bank accounts with Aadhaar mandatory under PMLA

By Deepika

While there is still confusion with regard to linking of bank accounts with Aadhaar, the central bank on Saturday cleared the air saying the linkage is mandated under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017.

Reserve Bank of India

The central bank was responding to media reports that said it was not necessary to link national identity card numbers, known as Aadhaar numbers, to bank accounts.

Earlier on Friday, it was reported that in response to an RTI query filed by MoneyLife, the apex bank had said it "has not issued any instruction so far regarding mandatory liking of Aadhaar number with bank accounts."

In a fresh statement on Saturday the RBI said that the requirement remained in force under anti-money laundering rules.

"Some news items have appeared in a section of the media quoting a reply to a 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 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 tweet.

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

The government has made it mandatory to link bank accounts with Aadhaar and some banks have been pushing for it. The deadline to do so is December 31.

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