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Aadhaar mandatory for opening bank account, transactions of Rs 50,000 and above

All the exixting account holders have been asked to submit Aadhaar to banks by December 31, 2017, failing which accounts will become invalid.

By: Express Web Desk | New Delhi | Updated: June 16, 2017 4:31 pm
aadhaar, aadhaar mandatory, bank account aadhaar, supreme court, indian express news, india news Government has made it mandatory for financial transactions of Rs 50,000 and above.

In a fresh development, Government has made Aadhaar mandatory for opening a bank account. It has also made it mandatory for financial transactions of Rs 50,000 and above. All the existing account holders have been asked to submit Aadhaar to banks by December 31, 2017, failing which accounts will become invalid.

It has come a week after the Supreme Court upheld the government’s decision to link Aadhaar to one’s PAN card but refused to make it compulsory for those who don’t have an Aadhaar card or who have not yet applied for one, till a Constitutional Bench decides on the privacy question pending before it.

Read | What is Aadhaar card and where is it mandatory?

The tax provision by the Centre, said that those who file income tax returns without an Aadhaar-linked PAN card would have their PAN declared invalid.

Read | Here’s how you can link Aadhaar with PAN card

“Court upheld validity of law, since a larger challenge is pending before the Constitution Bench. Today, anybody can get a PAN card with any name on it. A person can get several PAN cards — say, as Mukesh Gupta, then another as Mukesh Kumar Gupta, and a third as M K Gupta, so on and so forth,” said Attorney General Mukul Rohatgi.

Earlier, Aadhaar was made mandatory for Beedi/Iron Ore/limestone workers for availing house subsidy, supplementary nutrition program, farmers wanting to take crop insurance benefit, people wishing to avail benefits of welfare schemes under Integrated Department of Horticulture, National Apprenticeship Promotion Scheme and Janani Suraksha Yojana, to get Maternity Benefit Programme and Integrated Child Protection Scheme, etc.

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  1. R
    R.Mehta
    Oct 23, 2017 at 11:47 am
    The govt. should clarify if carrying of original aadhaar card to bank or post office is necessary if an amount of more than Rs 50000 is to be deposited in cash or is to be withdrawn in cash from the account by the account holder or someone else on behalf of account holder ,as the reporting of latest notification is confusing as to whether original copy is required at the time of initial opening of account or is required at the time for each transaction in cash above Rs 50000/
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    1. R
      Reader
      Oct 9, 2017 at 10:25 am
      A centralized and inter-linked biometric database like Aadhaar will lead to profiling and self-censorship, endangering freedom. Personal data gathered under the Aadhaar program is prone to misuse and surveillance. Aadhaar project has created a vulnerability to identi-ty fraud, even identi-ty theft. Easy harvesting of biometrics traits and publicly-available Aadhaar numbers increase the risk of impersonation, especially online and banking fraud. Centralized databases can be hacked. Biometrics can be cloned, copied and reused. Thus, BIOMETRICS CAN BE FAKED. High-resolution cameras can capture your fingerprints and iris information from a distance. Every eye hospital will have iris images of its patients. So another person can clone your fingerprints and iris images without your knowledge, and the same can be used for authentication. If the Aadhaar scheme is NOT STOPPED by the Supreme Court, the biometric features of Indians will soon be cloned, misused, and even traded.
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      1. R
        Reader
        Oct 9, 2017 at 10:24 am
        UK’s Biometric ID Database was dismantled. Why the United Kingdom's biometrics-linked National Identi-ty Card project to create a centralized register of sensitive information about residents similar to Aadhaar was scrapped in 2010?? The reasons were the massive threat posed to the privacy of people, the possibility of a surveillance state, the dangers of maintaining such a huge centralized repository of personal information, and the purposes it could be used for, and the dangers of such a centralized database being hacked. The other reasons were the unreliability of such a large-scale biometric verification processes, and the ethics of using biometric identification.
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        1. R
          Reader
          Oct 9, 2017 at 10:23 am
          The US Social Security Number (SSN) card has NO BIOMETRIC DETAILS, no photograph, no physical description and no birth date. All it does is confirm that a particular number has been issued to a particular name. Instead, a driving license or state ID card is used as an identification for adults. The US government DOES NOT collect the biometric details of its own citizens for the purpose of issuing Social Security Number. The US collects the fingerprints of only those citizens who are involved in any criminal activity (it has nothing to do with SSN), and the citizens of other countries who come to the US.
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          1. srinivasan ranganathan
            Jul 28, 2017 at 9:24 pm
            I have a joint account with my mother-in-law who gets monthly dependant's pension and I operate our account on her behalf. Her late husband had retired from Central Excise and passed away a couple of years back. She is over 85 years of age, immobile due to hip bone fracture and lives under the care of her second daughter in USA. She does not have an Aaadhar card and cannot travel to india as she is bedridden. She would continue to get her pension in her account as she is legally en led, but the account will be frozen thereafter. She is legally en led to her pension as long as she is alive. The money would continue to be deposited in her account every month but it cannot be withdrawn if the account is frozen. What is the solution to this problem? Can somebody throw some light on the how to go about this problem?
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