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Are banks asking you to link Aadhaar details to your a/c? Here’s what you should do

Representational image (Pic Courtesy: Business Today)

We bet you’ve been receiving e-mails and calls from banks to link your Aadhaar numbers to your accounts as soon as possible after the details were made mandatory for filing the tax returns. People are too confused about what to do about it and that’s why it is important to make it clear that the Aadhaar card is only one of the six acceptable KYC (Know Your Customer) documents listed by the RBI. But several banks including IDBI have been sending out mails, claiming that linking the Aadhaar no with the account is mandatory. And it is NOT true.

The Government of India has notified six documents as ‘Officially Valid Documents’ (OVDs) for the purpose of producing proof of identity. These six documents are Passport, Driving Licence, Voters’ Identity Card, PAN Card, Aadhaar Card issued by UIDAI and NREGA Job Card. You need to submit any one of these documents as proof of identity.

A report by Bloomberg Quint accessed some copies of such mails and have made it public.

IDBI Bank has been sending out such e-mails (Pic Courtesy: Bloomberg Quint)

IDBI Bank has been sending out such e-mails (Pic Courtesy: Bloomberg Quint)

Meanwhile, HDFC went on to the extent of setting a deadline for the same.

HDFC Bank's e-mail (Pic Courtesy: Bloomberg Quint)

HDFC Bank’s e-mail (Pic Courtesy: Bloomberg Quint)

While the banks continue to do so, several customers took to social media, complaining and questioning about the same, and it is then that the banks made it clear that linking the detail to you accounts is NOT mandatory but a suggestion.

However, if you say that the banks have no right to ask for your Aadhaar details, it would be wrong. The banks can ask you for your details as Aadhaar Act reads that the unique number can be used for KYC purposes by private agencies such as banks. The Act 2016 states –

Nothing contained in this Act shall prevent the use of Aadhaar number for establishing the identity of an individual for any purpose, whether by the State or any body corporate or person, pursuant to any law, for the time being in force, or any contract to this effect.’

Several banking experts are saying that there is a possibility that the Aadhaar details might be made mandatory for banking as well, and therefore, the banks are trying to link as many as accounts as possible.

Hence, the experts suggest that providing Aadhaar will not be dangerous for you, but if you don’t have one, you can tell the banks that it is NOT a legal requirement as of now.

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