In last few weeks you might have received tons of SMS, emails, automated voice calls and personal calls from bank staff to link your aadhaar number to your bank account. Though the automated communication does not mention it’s mandatory but talk to any bank staff and they would say – in case you DO NOT link aadhaar to bank account – the account would be frozen and no transactions might take place!
Update: Linking Aadhaar to Bank Account is now Compulsory. In case you do not link them by December 31, 2017 the account would be frozen!
The question is – Is it mandatory to link Aadhaar to your Bank Account? The loud and clear answer is NO – it’s not mandatory to link Aadhaar to your Bank Account. Though as per bank staff it would enable you do aadhaar based banking transactions, etc.
It seems all banks have been given unofficial targets to get aadhaar number for their account holders. There has been no official notification from RBI or Ministry of Finance.
Below are some responses from banks from their official Twitter handles!
Should you link your Aadhaar to your Bank Account?
Though it’s not mandatory but should you link your Aadhaar to your Bank Account? The answer is – it depends! If you think it gives any additional benefit, go ahead and use it. If you do not want to give any extra information or do not have aadhaar then be it.
Also Read: How to Link PAN to Aadhaar?
The way aadhaar is being pushed government may soon make it mandatory. Also once you link your PAN to Aadhaar (which is mandatory by June 30, 2017), banks might anyway get that information.
Next time you get a call about mandatory aadhaar linkage to bank account – you know what to answer!