Stocks are making another big rebound ahead of the opening bell
Home ownership among young adults has 'collapsed'
Cruise ship on which big brawl broke out to dock in Melbourne
US Section 232 options justified, would not hurt downstream: Commerce
FCC chair actions on eve of Sinclair-Tribune deal under scrutiny
Linking bank accounts to Aadhaar mandatory, confirms RBI
22 October 2017, 02:27 | Gordon Grant
Report: RBI Says Linking of Aadhar Card with Bank Account is Not Mandatory
"The Reserve Bank clarifies that, in applicable cases, linkage of Aadhaar number to bank account is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017", it said in a statement.
Due to the statutory nature of these rules, the Banks are required to enforce them without further instructions.
The existing bank account holders have to link their Aadhaar numbers issued by UIDAI by Dec 31, 2017, failing which the account will cease to be operational.
Mr M.S. Kumar, general secretary of the Federation of Bank Employees, said the RBI had issued guidelines based on the government's order to all bankers to seeding Aadhaar details with the bank accounts.
According to a Finance Ministry notification dated June 1, 2017, its mandatory for bank accounts that had been opened after June 1 to be linked with Aadhaar at the time of opening the account or within 6 months from the date of opening the bank account.
The new petition by Kalyani Menon Sen, who describes herself as a feminist scholar and activist working for 25 years on issues relating to women's rights, also challenged the validity of the March 23 circular issued by the department of telecommunication making it mandatory for citizens to link their mobile phones with Aadhaar. Supreme Court's decision of adding the fundamental right of Privacy has complicated the entire procedure for the government of India. "It may be noted that Reserve Bank has not yet issued instruction in this regard".
This is unacceptable since the bank staff are overburdened due to inadequate recruitment and increased volume of work of implementing various government schemes, among other things, it said. The Prevention of Money Laundering (Maintenance of Records) Rules, 2005, mandated quoting of Aadhaar along with PAN or Form 60 by individuals, companies and partnership firms for all financial transactions of Rs 50,000 or above.
Protesters Converge on White Nationalist Richard Spencer Event
Scott, as well as other Florida political and civic leaders, had urged people to stay away from the event, rather than protesting. As a public university, Florida is prohibited from stopping the event based on the contents or views of the speech, Fuchs said.
Google Parent Making Humongous Bet On Lyft
Over the past few years, Uber and Lyft have poured money into subsidies and other short-term stimulants of market share growth. However, with Uber and Waymo now at each others' necks, the relationship between Uber and Alphabet is likely pretty shaky.