Deadline For Linking Bank Accounts With Aadhaar Extended

The stipulated date for linking bank accounts, mutual fund folios and insurance policies with Aadhaar had been December 31, 2017, but Wednesday’s notification keeps the deadline open-ended.A new rule modifying the Prevention of Money Laundering Act of 2002 has been notified to replace the requirement of submitting “the Aadhaar number and Permanent Account Number by December 31, 2017″ with “submit the Aadhaarnumber, and Permanent Account Number or Form No. 60, by such date as may be notified by the Central Government”.The notification by the Department of Revenue in the finance ministry effectively paves the way for extending the deadline for mandatory quoting of Aadhaar for activities like the opening of a bank account.

Some petitioners in the top court+ have termed the linking of the Unique Identification Authority of India (UIDAI) number with bank accounts and mobile numbers as “illegal and unconstitutional”.

One of the counsel representing the petitioners had earlier said that final hearing on the main Aadhaar matter was necessary as the government “cannot compel” citizens to link their Aadhaar with either bank accounts or cell phone numbers.

Meanwhile, a five-judge constitution bench will continue hearing pleas seeking an interim stay on the Centre’s decision directing mandatory linking of Aadhaar with various government schemes and welfare measures. The Centre had on December 7 told the apex court that the deadline for mandatory linking of Aadhaar to avail various services and welfare schemes would shortly be extended till March 31 next year.

Source by:-indiatimes