(LiveMint)
If you want to open a new savings bank account, you need to produce your Aadhaar as well as PAN (permanent account number) or Form 60, according to the updated know-your-customer (KYC) guidelines issued by the Reserve Bank of India (RBI) on 20 April.
The new norms are, however, subject to the final Supreme Court judgment on Aadhaar, the RBI said in its circular. “The government had under Prevention of Money Laundering (PML) rules mandated linking of existing bank accounts with Aadhaar, but Supreme Court had extended the deadline. The RBI has now clearly set out that a new bank account can’t be opened without Aadhaar,” said Shilpa Mankar Ahluwalia, partner, Shardul Amarchand Mangaldas & Co., a legal firm.
Individuals eligible for enrolling in Aadhaar have to submit the number, or proof of application for Aadhaar enrolment, which should not be older than six months. Other officially valid documents such as passport, driving licence and voter’s identity card, can be used when you are submitting the proof of application for Aadhaar enrolment or Form 60 instead of PAN.
