Money & Banking

Deadline to link bank accounts with Aadhaar extended to March 31

Our Bureau New Delhi | Updated on January 09, 2018 Published on December 13, 2017

The government has extended the deadline for linking bank accounts with Aadhaar number to March 31, 2018.

Additionally, those opening new accounts will have a period of six months to submit the 12- digit biometric identification number, Permanent Account Number and Form 60. The earlier deadline for linking bank accounts with Aadhaar was December 31.

“After considering various representations received in this regard and inputs received from banks, it has been decided to notify March 31, 2018 or six months from the date of commencement of account based relationship by the client, whichever is later, as the date of submission...,” said the Finance Ministry on Thursday.

This could also mean a similar extension to other “account based” relationships such as mutual funds and insurance that also have to be linked with Aadhaar by the year end.

Necessary amendment to the Prevention of Money Laundering Act rules have also been made and a notification has been issued.

The Centre had, last week, informed the Supreme Court that it was willing to extend the deadline to March 31 for linking Aadhaar for availing welfare schemes.

Earlier this month, the Finance Ministry had also extended the deadline for linking PAN with Aadhaar to March 31.

Supreme Court hearing

Meanwhile an IANS report said the Supreme Court will hear, on Thursday, a batch of petitions challenging the constitutional validity of mandatory linking of Aadhaar to various schemes.

A Bench headed by Chief Justice Dipak Misra on Wednesday said the matter will be heard on December 14 after the matter was mentioned for hearing before the court goes into winter recess.

The petitioners are pressing for an extension of interim relief on the mandatory linking of Aadhaar to various schemes, including bank accounts and mobile numbers.

Published on December 13, 2017
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