Linking Aadhaar card number to bank accounts mandatory in applicable cases: RBI

The Reserve Bank of India (RBI) released a statement on Saturday which clarified the status on linking the Aadhaar card to bank accounts.

Reports in media were doing the rounds which stated that it is not mandatory for the Aadhar card to be linked with bank accounts but RBI has made an official statement over it.

This is what the statement said: 

"Some news items have appeared in a section of the media quoting a reply to a Right to Information Act application that Aadhaar number linkage with bank accounts is not mandatory.

The Reserve Bank clarifies that, in applicable cases, linkage of Aadhaar number to a 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.

These Rules have statutory force and, as such, banks have to implement them without awaiting further instructions," Jose J. Kattoor, Chief General Manager.