The linking of Aadhaar to bank accounts and PAN card has been put off by the government from the deadline of December 31, 2017. In a gazette notification, dated December 12, the ministry of finance said that citizens will have to link Aadhaar to bank accounts and PAN " by such date as may be notified by the Central Government” instead of the earlier deadline. In other words, the linking of Aadhaar is put off indefinitely for bank accounts and PAN till the government says otherwise. The government had made it mandatory to link the 12-digit identity number to bank accounts and PAN card by amendments to the Prevention of Money-Laundering rules (PMLA). Earlier this month, law and information technology minister Ravi Shankar Prasad said that more than 50 crore bank accounts out of 80 crore bank accounts have been linked to Aadhaar and tried to downplay privacy concerns raised. “50 crore people have voluntarily linked 81 crore bank accounts to Aadhaar cards. I don’t understand why there’s opposition to the government initiative by other people?” Prasad said. The PMLA mandates banks and financial institutions to take PAN and Aadhar for opening a bank account as well as for any financial transaction of Rs 50,000 and above. Consequently, it was expanded to the insurance and mutual funds segment as well. However, the deadline for linking Aadhaar to mobile numbers is February 6, 2018. The Supreme Court is currently hearing various petitions against the increased expansion of the Aadhaar programme. Currently, the government has a committee looking…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...