India Linking Rupay Tender

With regard to linking of bank account with Aadhaar Ministry of Electronics and Information Technology MeitY has apprised that The Aadhaar and Other Laws Amendment Bill 2019 has been passed by the Parliament. The bill inter-alia has the provision for allowing the use of Aadhaar authentication on voluntary basis as acceptable Know Your Customer KYC document by inserting Section 11A under the Prevention of Money Laundering Act 2002.Further as per Reserve Bank of India RBIs Master Direction on KYC dated 25.2.2016 as amended in May 2019 banks are to obtain the Aadhaar number from an individual who is desirous of receiving any benefit or subsidy under any scheme notified under section 7 of the Aadhaar Targeted Delivery of Financial and Other subsidies Benefits and Services Act 2016 18 of 2016.Account holders under Pradhan Mantri Jan-Dhan Yojana PMJDY are provided with a RuPay Debit card having an inbuilt accident insurance cover of Rs.1 lakh Rs.2 lakh for PMJDY accounts opened after 28.08.2018. As apprised by National Payments Corporation of India NPCI linking of Aadhaar is not mandatory for activation of RuPay cards.