Linking Aadhar with savings bank accounts was mandatory

Reserve Bank of India Reserve Bank of India The Reserve Bank of India has said it is necessary to link Aadhar with savings accounts managed by banks. Under the Right to Information Act (RTI), it was stated that no such order has been issued to the Aadhar link with the Savings Account of the banks. This issue was released in the media. The Reserve Bank of India has issued a statement to explain this. The Reserve Bank has said that it is necessary to link bank accounts with the Foreign Exchange Prevention Act. 



The matter was published on June 1, 2017. Accordingly, this law enforcement is mandatory. The Reserve Bank said that banks should not have to wait for any additional information, but they should take the Aadhar link. The government said the Aadhar Card was mandatory to open a bank account last June. Similarly, Aadhaar number should be noted for more than Rs.10,000 transactions. 

Those who already have a bank account should report to the Aadhar number in their branches. The information provided by UIDAI is to be submitted by December 31. Previously, in the media, the reports presented to the RDI were reported. It has been reported that the RBI has indicated that Aadhar link is not required for bank accounts. 

In the budget presented in 2017, some individuals have made a number of PANs (taxpayers) and it is mandatory that tax evasion should be done and it is mandatory to add the Adhar Identification number. In a statement issued by the government, the Foreign Exchange Regulation Act 2005 was amended to include Form 60 and individuals and institutions for setting up a formal number with the PAN number and the Aadhar number is mandatory for more than Rs 50,000.

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