Deadline to link Aadhaar with bank accounts extended until March 31
The government on December 13 extended the December 31 deadline for linking bank accounts to Aadhaar numbers by three months to March 31, 2018. The statement came even as the Supreme Court decided to begin hearings on petitions challenging the validity of the Aadhaar scheme from Thursday.
Later in the day, the Supreme Court Registry announced that the matter has been listed before a five-judge Constitution Bench, comprising the CJI and Justices A K Sikri, A M Khanwilkar, D Y Chandrachud and Ashok Bhushan. At the previous hearing, Attorney General K K Venugopal had told the CJI-headed Bench that the Centre was in the process of revising the deadline to March 31 next year, adding that the relief would be available only to those who do not have an Aadhaar card yet.
The A-G had also stated that the deadline for linking Aadhaar with mobile numbers will remain February 6, 2018, in view of the court’s order on February 6, 2017
The Government has asked banks, financial institutions, and intermediaries to ensure that all their customers are know-your-customer (KYC) compliant which, as per the new rules, requires verification of their Aadhaar. An amendment has been made in the Prevention of Money Laundering Rules (Maintenance and Records), 2005 to this effect.
As per the earlier rules, one had to mandatorily submit his/her Aadhaar and PAN details to be KYC-compliant. If this was not done before December 31, 2017, his/her account will become inoperable until the time the required details are submitted. Now this deadline has been extended to March 31, 2018
Now it’s a slight sigh of relief for those who have not linked their Aadhaar with the required documents.