Aadhaar has emerged as key document for new bank accounts: Survey
6 years, 9 months ago

Aadhaar has emerged as key document for new bank accounts: Survey

Live Mint  

New Delhi: Aadhaar has emerged as an enabler for financial inclusion with 76% to 95% of new accounts opened in different states relying on biometric identification but steps are needed to improve continued usage of these bank accounts, says a survey that analysed three-year data from rural Andhra Pradesh, Rajasthan, and West Bengal. The survey sought to find out whether Aadhaar had aided unbanked individuals or households in opening a bank account and whether Aadhaar had made bank accounts easier to use, resulting in fewer dormant accounts. Despite growing access to bank accounts among Indian adults, the survey found only a subset of accounts were actively in use—66.6% in Andhra Pradesh, 58.1% in West Bengal, and 44.9% in Rajasthan. The survey also found that although transactions through the use of micro-ATMs and through banking correspondents have been increasing, the “utilisation rates are still low in the three states.” In Andhra Pradesh, about a third of respondents who used their bank accounts in the last three months reported having used a microATM.

Rajasthan Financial Inclusion Aadhaar West Bengal Bank Survey Bank Accounts Accounts Key Document  accounts  emerged  aadhaar  west  used  key  document  states  bank  financial  survey  usage  rajasthan

History of this topic

Fin inclusion not just opening accounts, engagement is key: RBI Dy. Gov. Rao
1 month ago

Fin inclusion not just opening accounts, engagement is key: RBI Dy. Gov. Rao

New Indian Express  

MUMBAI: There have been some concerns about excessive borrowing in unsecured segment and from derivative euphoria in the capital markets of late, says M Rajeshwar Rao, deputy governor, Reserve Bank of India. “However, true financial inclusion goes beyond merely having a bank account—it requires meaningful engagement with financial services,” he said, adding a bank account should serve as an entry …

Open savings account online: This bank allows customers to open account with Aadhaar OTP - Details
1 month, 1 week ago

Open savings account online: This bank allows customers to open account with Aadhaar OTP - Details

India TV News  

Open savings account online: This bank allows customers to open account with Aadhaar OTP - Details Open savings account online: Customers can upgrade their accounts within a year through face-to-face KYC. Open savings account online: Eligibility for opening IOB Insta Digital Savings Account Anyone with a valid Aadhaar and PAN card. Open savings account online: Important things to know Customers …

Over 540 million bank accounts opened under Pradhan Mantri Jan Dhan Yojana: Report
3 months, 1 week ago

Over 540 million bank accounts opened under Pradhan Mantri Jan Dhan Yojana: Report

Live Mint  

New Delhi: A total of 540.5 million bank accounts have been opened under the government's flagship financial inclusion scheme Pradhan Mantri Jan Dhan Yojana as of November, according to the Inclusive Finance India Report 2024. Launched on Thursday at the Global Inclusive Finance Summit 2024 in Delhi, organised by ACCESS Development Services, the report noted the accounts have a total …

Bihar aims for 100% Aadhar seeding of NREGS job card holders by Jan 15
1 year, 2 months ago

Bihar aims for 100% Aadhar seeding of NREGS job card holders by Jan 15

Hindustan Times  

Bihar hopes to complete the process of linking Aadhar cards of all job card holders under MGNREGS by mid-January as part of the Centre’s directive to states to implement Aadhar-based payment of wages to beneficiaries under the scheme, officials familiar with the matter said. “We currently have around 84% of job card holders whose bank accounts have been linked with …

Lack of live authentication led to Aadhaar-enabled Payment System fraud in Karnataka
1 year, 3 months ago

Lack of live authentication led to Aadhaar-enabled Payment System fraud in Karnataka

The Hindu  

As Karnataka reported cases of fraudulent financial transactions using Aadhaar numbers and thumb impressions downloaded from the public domain recently, it has now emerged that the transactions took place over the non-live fingerprint authentication that led to multiple frauds in the Aadhaar-enabled Payment System. The modus operandi Documents were downloaded from the Kaveri system Aadhaar number and thumb impression in …

Identity pangs: The Hindu Editorial on Aadhaar and concerns
1 year, 5 months ago

Identity pangs: The Hindu Editorial on Aadhaar and concerns

The Hindu  

In an innocuously titled report on “Decentralized Finance and Digital Assets” released last Saturday, global rating major Moody’s Investors Service has flagged some uncomfortable home truths about India’s ambitious digital identification programme for residents, Aadhaar. But at a broader level, the agency has red-flagged security and privacy risks from “centralised” digital ID systems such as Aadhaar, where a single entity …

Aadhaar is not perfect but has proven useful
1 year, 5 months ago

Aadhaar is not perfect but has proven useful

Live Mint  

Given how widely Aadhaar has been hailed as a success in biometric identification to enable policy action, the Moody’s critique of it caught many by surprise. It said the credit rating agency had made sweeping assertions against Aadhaar without citing any empirical evidence and had ignored facts about its identity verification options in suggesting that service failures were resulting in …

PM Jan-Dhan Yojana adds 500 mn accounts; deposits cross ₹2.03 trillion
1 year, 7 months ago

PM Jan-Dhan Yojana adds 500 mn accounts; deposits cross ₹2.03 trillion

Live Mint  

New Delhi: Pradhan Mantri Jan-Dhan Yojana, the scheme which is responsible for providing basic banking facilities to the underprivileged and further catalysing the government’s mission for financial inclusion, now has in excess of 500 million accounts with deposits crossing ₹2.03 lakh crore. “As per the latest reports submitted by banks the total number of Jan Dhan accounts have crossed 50 …

Aadhaar authentication surges with 1.96 billion transactions in April 2023, indicating digital economy expansion
1 year, 10 months ago

Aadhaar authentication surges with 1.96 billion transactions in April 2023, indicating digital economy expansion

Live Mint  

New Delhi: Aadhaar holders have executed 1.96 billion authentication transactions in April 2023, underlining the growing usage of Aadhaar and growth of digital economy in the country, according to an official release. “Aadhaar holders executed 1.96 billion authentication transactions in April 2023, a jump of more than 19.3 per cent over April 2022, indicating the growth of digital economy and …

Expanding Aadhaar to private entities is risky
1 year, 10 months ago

Expanding Aadhaar to private entities is risky

Hindustan Times  

In a landmark 4-1 verdict in 2018, the Supreme Court upheld the constitutionality of the Aadhaar Act, 2016, but struck down section 57, which allowed the use of Aadhaar authentication and E-KYC by private companies to establish an identity for delivering services. Explaining its ruling, the top court said that the section struck at the heart of an individual’s privacy, …

India’s digital public infrastructure, catching the next wave
1 year, 11 months ago

India’s digital public infrastructure, catching the next wave

The Hindu  

India’s digital public infrastructure, loosely the India Stack and more, is a marvel of our times, shaped in a unique partnership between governments, regulators, the private sector, selfless volunteers, startups, and academia/think tanks. Engendering sustained collective action at scale between so many disparate entities itself is magical and the outcomes are India’s answer to Web 3, perhaps even superior in …

Is Aadhaar for greater social good?
2 years, 3 months ago

Is Aadhaar for greater social good?

The Hindu  

The passage of time does not seem to have removed the concern of people about the safety of Aadhaar data. It was more than six-seven years ago that cooking gas consumers in Tamil Nadu began seeding their Aadhaar and bank account details with their LPG consumer numbers for receiving the subsidy and the ration cardholders integrated the Aadhaar data of …

Questioning the safety of Aadhaar
2 years, 9 months ago

Questioning the safety of Aadhaar

The Hindu  

The story so far: Two days after issuing an advisory asking people to refrain from sharing photocopies of their Aadhaar Card, the Unique Identification Development Authority of India opted to withdraw the notification. It stated that the action was to avert any possibility of ‘misinterpretation’ of the press release, asking people to exercise “normal prudence” in using/sharing their Aadhaar numbers. …

Aadhaar linking of beneficiary bank accounts turns a challenge
2 years, 10 months ago

Aadhaar linking of beneficiary bank accounts turns a challenge

The Hindu  

Getting the benefits of Navaratnalu, the welfare schemes being implemented by the YSR Congress Party government in the State, has become a challenge for some following introduction of a pre-condition by the government for transfer of money directly to the bank accounts of beneficiaries. Till some time ago, many farmers, aged persons drawing pension and other beneficiaries had been getting …

PM Jan Dhan Yojana: Redefining Financial Inclusion, the Narendra Modi Way
3 years, 2 months ago

PM Jan Dhan Yojana: Redefining Financial Inclusion, the Narendra Modi Way

News 18  

Pradhan Mantri Jan Dhan Yojana was launched on August 28, 2014, with the objective to ensure accessibility to various financial services like availability of basic savings bank account, need-based credit, remittance facility, insurance, micro-credit and pension to the excluded sections, which includes the weaker sections and low-income groups. The Jan Dhan Revolution Coming back to Jan Dhan, more than 44.34 …

Aadhaar 2.0: Top Govt Officials, Experts to Brainstorm on Expanding Usage, Achieving International Standard
3 years, 4 months ago

Aadhaar 2.0: Top Govt Officials, Experts to Brainstorm on Expanding Usage, Achieving International Standard

News 18  

Top government officials and experts from India and abroad will brainstorm over three days in the coming week over how to improve and expand the use of Aadhaar in a digital economy and work towards developing Aadhaar as an “International Digital Identity Standard”. The three-day workshop titled ‘Aadhaar 2.0 – Ushering the Next Era of Digital Identity and Smart Governance’ …

33% Of Indians Store Sensitive Information Like ATM Pin In Phone Or Computer: Survey
3 years, 6 months ago

33% Of Indians Store Sensitive Information Like ATM Pin In Phone Or Computer: Survey

ABP News  

New Delhi: In recent years people have become more dependent on online retail for the sake of convenience and buy things that are difficult to find in local shops. Unisys Security Index 2020 report that measured consumers’ concern around personal financial security, found that bank card fraud via unauthorized access to individual’s credit & debit card details and concerns around …

Aadhaar as a hurdle: The Hindu Editorial on biometric authentication failures and welfare delivery
4 years ago

Aadhaar as a hurdle: The Hindu Editorial on biometric authentication failures and welfare delivery

The Hindu  

The Supreme Court, on Wednesday, did the right thing by terming as serious the allegation by a petitioner that three crore ration cards were cancelled for not being linked with the Aadhaar database and that these were connected to reported starvation deaths in some States. Following the Court’s judgment in 2018, upholding the Aadhaar programme as a reasonable restriction on …

Finance Minister Asks Banks to Ensure All Accounts Are Linked with Aadhaar by March 2021
4 years, 4 months ago

Finance Minister Asks Banks to Ensure All Accounts Are Linked with Aadhaar by March 2021

News 18  

Mumbai: Finance Minister Nirmala Sitharaman on Tuesday asked banks to ensure that all accounts are linked with Aadhaar numbers of respective customers by March 31, 2021. “…by March 31, 2021, every account should have a PAN where needed and where applicable, and Aadhaar in every one of your accounts,” Sitharaman said while addressing the 73rd annual general meeting of the …

Bank accounts opened under Jan Dhan Yojana crosses 40-crore mark
4 years, 7 months ago

Bank accounts opened under Jan Dhan Yojana crosses 40-crore mark

The Hindu  

More than 40 crore bank accounts have been opened under the government’s flagship financial inclusion drive Pradhan Mantri Jan Dhan Yojana, launched about six years ago by the Modi-government. As per the latest figure, there are 40.05 crore beneficiaries of this scheme and deposits in Jan Dhan bank accounts are in excess of ₹1.30 lakh crore. “Another milestone achieved under …

Aadhaar made mandatory for PMVVY pension scheme
5 years, 2 months ago

Aadhaar made mandatory for PMVVY pension scheme

The Hindu  

The government has made Aadhaar mandatory for subscribers of the Pradhan Mantri Vaya Vandana Yojana, a pension scheme for senior citizens. “An individual eligible for receiving the benefit under the scheme shall hereby be required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication,” according to a finance ministry notification. In cases where Aadhaar authentication fails due …

Aadhaar still excludes homeless and transgender people from being enrolled: Study
5 years, 3 months ago

Aadhaar still excludes homeless and transgender people from being enrolled: Study

Firstpost  

An estimated 102 million people do not have Aadhaar, including 30 percent of India’s homeless population and more than a quarter of its third-gender citizens Ten years after it was introduced, India’s national digital identity system is becoming ubiquitous in the country, even as large numbers of homeless and transgender people are excluded and many denied essential services, a study …

KYC for opening bank accounts to make process secure: UIDAI
5 years, 6 months ago

KYC for opening bank accounts to make process secure: UIDAI

India TV News  

The recent amendments to anti-money laundering rules allowing voluntary use of Aadhaar for the opening of bank accounts and the modalities of digital KYC for cases where verification is done using other documents like voter ID and driving licence will make the process secure and convenient for users, UIDAI CEO said on Wednesday. The government, last week, had notified amendments …

Digitisation push: Aadhaar enabled transactions cross 200 mn milestone on NPCI platform during July
5 years, 7 months ago

Digitisation push: Aadhaar enabled transactions cross 200 mn milestone on NPCI platform during July

Firstpost  

The umbrella body for digital transactions, NPCI, on Monday said that Aadhaar enabled Payment System crossed the milestone of over 200 million transactions during July this year New Delhi: The umbrella body for digital transactions, NPCI, on Monday said that Aadhaar enabled Payment System crossed the milestone of over 200 million transactions during July this year. AePS is a bank-led …

Aadhaar Bill seeking its use as ID to open bank accounts passes in Lok Sabha
5 years, 8 months ago

Aadhaar Bill seeking its use as ID to open bank accounts passes in Lok Sabha

India Today  

Lok Sabha on Thursday passed the Aadhaar and Other Laws Bill, 2019. Amid Opposition raising several objections to the proposed amendments in the bill, the Lok Sabha cleared the bill that seeks to allow voluntary use of Aadhaar as an identity proof. The bill proposes to allow Aadhaar cardholders to use it as an identity proof to open bank accounts …

Banking in India: Why many people still don’t use their accounts
5 years, 9 months ago

Banking in India: Why many people still don’t use their accounts

Al Jazeera  

Despite a big government push to sign up bank-account holders, many hurdles prevent people from using them. This rapid growth has been driven by Prime Minister Narendra Modi‘s flagship Jan Dhan – or “people’s wealth” – programme, which opened more than 355 million accounts in India’s state and private sector banks in five years. Government figures show that 83 percent …

Banks can use Aadhaar for KYC verification with customer's consent: RBI
5 years, 9 months ago

Banks can use Aadhaar for KYC verification with customer's consent: RBI

Firstpost  

Mumbai: Banks can use Aadhaar for KYC verification with the customer’s consent, the Reserve Bank said Wednesday as it updated its list of documents eligible for identification of individuals. “Banks have been allowed to carry out Aadhaar authentication/ offline-verification of an individual who voluntarily uses his Aadhaar number for identification purpose,” the central bank said in its amended Master Direction …

Banks can use Aadhaar for KYC with customer's consent: RBI
5 years, 9 months ago

Banks can use Aadhaar for KYC with customer's consent: RBI

India TV News  

Banks can use Aadhaar for KYC verification with the customer's consent, the Reserve Bank said Wednesday as it updated its list of documents eligible for identification of individuals. "Banks have been allowed to carry out Aadhaar authentication/ offline-verification of an individual who voluntarily uses his Aadhaar number for identification purpose," the central bank said in its amended Master Direction on …

Jan Dhan Yojana’s triumph shows financial inclusion gaining pace; scheme a launching pad for success of DBT, other products
5 years, 10 months ago

Jan Dhan Yojana’s triumph shows financial inclusion gaining pace; scheme a launching pad for success of DBT, other products

Firstpost  

Allegations of large-scale misuse of Jan Dhan accounts by black money hoarders seeking to convert their illegitimate wealth in cash during demonetisation are yet to be proved. The aggregate deposits in the Pradhan Mantri Jan Dhan Yojana accounts are currently close to Rs 1 lakh crore, having grown ten-fold from the Rs 10,500 crore in the first phase of the …

Has Aadhaar improved welfare delivery?
5 years, 11 months ago

Has Aadhaar improved welfare delivery?

Live Mint  

New Delhi: On Aadhaar.there is no vision, only political gimmick,” tweeted Narendra Modi in 2014, just a month before he became Prime Minister. Proponents argue that Aadhaar, by providing a unique identity and allowing biometric authentication, delivers the gains to actual beneficiaries, instead of fake or duplicates, thereby cutting leakages. This includes the Mahatma Gandhi National Rural Employment Guarantee Scheme …

Ujjwala Yojana, Jan Dhan and Swachh Bharat NDA Govt's Biggest Hit Schemes, Shows Survey
5 years, 11 months ago

Ujjwala Yojana, Jan Dhan and Swachh Bharat NDA Govt's Biggest Hit Schemes, Shows Survey

News 18  

In the run-up to Lok Sabha elections when we are all bombarded with opinion, propaganda and heated debates in favour of or against a political party, scientific data attains paramount importance. As per the survey, Ujjwala Yojana appears to be the best performing scheme, with 52.4% respondents confirming that they had received free LPG connections. As per government figures between …

Financial access counts, but transactions matter most
6 years, 1 month ago

Financial access counts, but transactions matter most

Deccan Chronicle  

India’s flagship financial inclusion programme — Pradhan Mantri Jan Dhan Yojana — launched in 2015 with a mission to provide a basic account to every adult— has significantly changed the demographics. According to the World Bank’s Global Financial Inclusion Database, or Global Findex report 80 per cent Indian adults now have a bank account — 27 points higher than the …

Govt Tables Bill to Allow Voluntary Use of Aadhaar for SIMs, Banks
6 years, 2 months ago

Govt Tables Bill to Allow Voluntary Use of Aadhaar for SIMs, Banks

The Quint  

The bill seeks to amend the Aadhaar Act, 2016, the Indian Telegraph Act, 1885 and the Prevention of Money-laundering Act, 2002. The legislation proposes telecom service providers, apart from using Aadhaar for authentication, can also leverage offline verification, use of passport, or any other officially valid document or modes of identification as notified by the central Government. The amendments, according …

2030: A banking odyssey
6 years, 3 months ago

2030: A banking odyssey

Live Mint  

Consider this scenario—it is 2030. Banks who can make the transition to being ecosystem orchestrators, will be able to embed their banking services in the non-banking journeys of their customers, making access to banking more convenient.In exchange, they would get a more comprehensive source of digital data to understand their customers better. Existing successful banks with strong customer franchises could …

2 cases where banks can still open accounts with Aadhaar card
6 years, 4 months ago

2 cases where banks can still open accounts with Aadhaar card

Live Mint  

New Delhi: After the Supreme Court judgment that restricted all private entities, including banks, against using Aadhaar for customer identification or KYC service, the Unique Identification Authority of India has given clear instructions to all banks that the Aadhaar card cannot be used to open bank account. For getting subsidy into bank account: If you want money from any government …

UIDAI asks banks to use Aadhaar e-KYC for DBT users
6 years, 4 months ago

UIDAI asks banks to use Aadhaar e-KYC for DBT users

Live Mint  

New Delhi: The Unique Identification Authority of India has said that Aadhaar e-KYC can be used to authenticate beneficiaries of government subsidies and welfare schemes, while for others the Aadhaar card can be used for verification, said a senior UIDAI official, requesting anonymity. The UIDAI wrote to banks after it received legal opinion on the matter, in the wake of …

What will happen to bank accounts opened through Aadhaar
6 years, 5 months ago

What will happen to bank accounts opened through Aadhaar

Live Mint  

Mumbai: Last week, the Supreme Court said that customers can’t be forced to link their bank accounts to Aadhaar. However, in the last couple of years most banks had started opening online bank accounts using Aadhaar and one-time passwords. “Kotak’s 811 is built on RBI’s Aadhaar-based OTP authentication guideline for opening bank accounts. Aadhaar continues to be available as a …

Supreme Court verdict on Aadhaar: Why linking bank accounts is critical for battle against black money
6 years, 5 months ago

Supreme Court verdict on Aadhaar: Why linking bank accounts is critical for battle against black money

Firstpost  

The Supreme Court verdict on 26 September 2018 upholding the constitutional validity of the biometric identification document Aadhaar, even while decrying its unnecessary ubiquitous use, has been hailed as nuanced. The apex court has upheld Aadhaar being seeded into PAN apparently in deference to the government’s stand that such seeding was necessary to oust ghost Income Tax Return filers with …

Curbs on use of Aadhaar data a blow to fintech firms and payment banks
6 years, 5 months ago

Curbs on use of Aadhaar data a blow to fintech firms and payment banks

Live Mint  

New Delhi: In a major blow to fintech companies and payment banks which rely on Aadhaar to authenticate customers, the Supreme Court in its landmark judgement on Wednesday held the use of Aadhaar information by private companies as unconstitutional. Private companies, mostly from the fintech industry, which sell various products such as loans, mutual funds and insurance, use Aadhaar to …

Aadhaar verdict: Is it brakes on OTP-based account opening?
6 years, 5 months ago

Aadhaar verdict: Is it brakes on OTP-based account opening?

The Hindu  

The Supreme Court ruling on Wednesday that Aadhaar is not mandatory for opening bank accounts could affect online opening of accounts. The State Bank of India, Axis Bank and Kotak Mahindra Bank are among the banks that allow opening of bank accounts online using a one-time password through Aadhaar authentication. “If the RBI allows Aadhaar as one of the officially …

Aadhaar Card: Watch for all the LATEST UPDATES
6 years, 5 months ago

Aadhaar Card: Watch for all the LATEST UPDATES

ABP News  

The Supreme Court on Wednesday declared Centre's flagship Aadhaar scheme as 'Constitutionally valid', stating it has become a very important matter of identity of every individual in the country and urged the government to "introduce strong data protection law as soon as possible". The verdict came following a batch of 31 petitions, including one by former High Court judge K …

Govt now targets bank accounts for all individuals
6 years, 6 months ago

Govt now targets bank accounts for all individuals

Live Mint  

New Delhi: The government on Wednesday expanded its social safety net programme to cover more beneficiaries, ahead of the crucial state polls due later this year and general elections in 2019. The cabinet cleared a proposal to expand the scope and benefits associated with the government’s ambitious Pradhan Mantri Jan-Dhan Yojana, aimed at providing a bank account to every Indian …

Despite Jan Dhan push, financial inclusion is elusive
6 years, 8 months ago

Despite Jan Dhan push, financial inclusion is elusive

Live Mint  

New Delhi: A shortage of bank branches and ATMs across India’s hinterland is holding back Prime Minister Narendra Modi’s financial inclusion efforts and risks angering rural voters ahead of elections next year. After taking office in 2014, Modi set an ambitious target to open a bank account for every household to ensure welfare funds flow directly to India’s poor, while …

Aadhaar virtual IDs becoming a real problem for NBFCs
6 years, 9 months ago

Aadhaar virtual IDs becoming a real problem for NBFCs

Live Mint  

Mumbai: The Unique Identification Authority of India’s plan to make non-banking financial companies use Aadhaar Virtual IDs to authenticate customers from 1 July has put these firms in a fix. The government introduced 16-digit virtual IDs in a bid to address privacy concerns around sharing Aadhaar numbers at the time of authentication. NBFCs also point out that many customers are …

India needs Jan Dhan, and not just Jan Dhan accounts
6 years, 9 months ago

India needs Jan Dhan, and not just Jan Dhan accounts

Live Mint  

In the run-up to the 2019 general election, the Bharatiya Janata Party has started its media blitz, outlining the achievements of the last four years. Under tremendous pressure from the top to reach targets of new bank accounts, bank employees and bureaucrats opened fake accounts, or converted existing accounts into Jan Dhan accounts. The World Bank Group’s Global Findex Database …

The Jan-Dhan Yojana, four years later
6 years, 9 months ago

The Jan-Dhan Yojana, four years later

The Hindu  

The Pradhan Mantri Jan-Dhan Yojana, one of the flagship schemes of the present government, was launched in August 2014. In fact, the major limitation of the JDY has been that while it has managed to get many people to open bank accounts, there is no commensurate increase in the use of these accounts, availability of formal credit, or savings in …

Aadhaar misuse: As many as 164 UID related frauds reported since 2011; highest in 2018, reveals data
6 years, 10 months ago

Aadhaar misuse: As many as 164 UID related frauds reported since 2011; highest in 2018, reveals data

Firstpost  

In the six years since the launch of the Aadhaar programme in September 2011, 164 cases of forged or fake Aadhaar numbers and Aadhaar-related banking frauds have been reported By Alison Saldanha Mumbai: In January 2018, eight persons were arrested in Chandigarh for purchasing expensive mobile phones with fraudulent loans secured using fake Aadhaar cards. Of these, 52 cases involved …

Aadhaar is still mandatory for new bank accounts
6 years, 10 months ago

Aadhaar is still mandatory for new bank accounts

Live Mint  

If you want to open a new savings bank account, you need to produce your Aadhaar as well as PAN or Form 60, according to the updated know-your-customer guidelines issued by the Reserve Bank of India on 20 April. The new norms are, however, subject to the final Supreme Court judgment on Aadhaar, the RBI said in its circular. “The …

Linking Aadhaar, PAN cards mandatory for opening of bank accounts under new KYC guidelines: RBI
6 years, 11 months ago

Linking Aadhaar, PAN cards mandatory for opening of bank accounts under new KYC guidelines: RBI

Firstpost  

In the amended Customer Due Diligence procedure, RBI said, “The Aadhaar number, the PAN or Form No. But in the amended Customer Due Diligence procedure, RBI said, “The Aadhaar number, the PAN or Form No. For residents of Jammu and Kashmir, Assam or Meghalaya, who do not submit Aadhaar or proof of application of enrolment for Aadhaar, the bank may …

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