Tuesday, October 6, 2015

8828 - Banking on Aadhaar: What concerns the RBI? - Money Life




DR ANUPAM SARAPH | 05/10/2015 04:30 PM |   


Will RBI answer serious concerns that it had raised about financing terrorism and money laundering before reluctantly agreeing to use Aadhaar in 2011?

On the 11 August 2015, the Supreme Court of India reiterated for a fourth time that Aadhaar number cannot be a condition for obtaining any benefits otherwise due to citizens. The apex court also asked the Union of India to give wide publicity in the electronic and print media including radio and television networks that it is not mandatory for a citizen to obtain an Aadhaar card. It also directed that Unique Identification Number (UID) or the Aadhaar number will not be used for any purpose other than the public distribution scheme (PDS) and in particular for the purpose of distribution of food grains and cooking fuel, such as kerosene and the LPG distribution scheme.