Aadhaar card Legal Evidence for opening bank Accounts

Aadhaar card Legal Evidence for opening bank Accounts: Finance Ministry

Aadhaar card legal evidence for opening up a bank account under the know your client (KYC) criteria, authorities said on Wednesday.

“Reserve Bank of India (RBI) has advised that the Aadhaar Card Status is a legal evidence for an opening of a bank account under the Know Your Client (KYC) strategy,” Finance Ministry said in a statement.

It stated that RBI has advised banks to take Aadhaar correspondence issued by Particular Identification Authority of India (UIDAI) within a formal legal record for an opening bank account with no limitations related to small balances.

RBI has also suggested that the banks that when the address supplied by the account holder would be just like that on Aadhaar correspondence, it might be accepted as an evidence of the Aadhaar-linked identity and address.

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