Categories: Bank News

Aadhar linking to bank account not mandatory: Supreme Court

The Aadhaar verdict was announced today (26.09.2018) by a five-judge constitution bench of Supreme Court comprising Chief Justice Dipak Misra, Justice A.K. Sikri, Justice A.M. Khanwilkar, Justice D.Y. Chandrachud and Justice Ashok Bhushan. The Apex Court, ruled that it is not mandatory to link bank accounts with Aadhaar or Unique Identity Number, a 12-digit personal identification number issued by the Unique Identification Authority of India. The Supreme Court said benefits under the Aadhaar project should be in the nature of welfare schemes and it cannot be made compulsory for services such as bank accounts, mobile connections or school admissions. However, the top court allowed linking Aadhar with Permanent Account Number (PAN) which is mandatory for filing of income tax return (ITR).

The validity of compulsory linking of the Aadhaar card with bank accounts, PAN card, welfare schemes and a host of other utilities was challenged in Supreme Court by spree of petitions alleging that it violates the fundamental right to privacy.

 

Surendra Naik

Share
Published by
Surendra Naik

Recent Posts

Explained: Disclosures Prescribed by RBI under Basel-III

The Basel Committee on Banking Supervision (BCBS) is the primary global standard setter for the…

8 hours ago

Disclosure requirement of Banks Listed on a Stock Exchange

In terms of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,…

10 hours ago

Understanding Comments on Profit and Loss Account Items

Many methods and techniques are used in the analysis of financial statements including profit and…

1 day ago

Uttar Pradesh State General Holidays 2025

The Government of Uttar Pradesh vide order No.  870/3-2024-39(2)/2016 dated 17.12.2025 declared following days as…

2 days ago

Disclosure Requirements of Banks to Notes to Accounts,

Financial statement disclosures are non-financial information that appears at the end of a financial statement.…

2 days ago

‘Digital Arrest’ Scam: NPCI alerts UPI users

NPCI warns users about the rising 'Digital Arrest' scam targeting UPI users, in which scammers…

3 days ago