Banks To Be Fined If Stipulated Aadhaar Enrolment Centres Are Not Set-Up: UIDAI

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For the purpose of Aadhaar enrolment, UIDAI has stipulated 10% of bank branches to set-up Aadhaar enrolment facility. The banks have been given an additional month and if the directive is not adhered to, a fine of Rs. 20000 per uncovered branch shall be levied, said CEO of UIDAI Ajay Bhushan on Tuesday.

Banks To Be Fined If Stipulated Aadhaar Enrolment Centres Are Not Set-Up: UIDAI

In July the unique-identification authority has asked banks, both public as well private sector banks to set up Aadhaar enrolment as well as updation centres by August end in one out of 10 branches. Banks sought an additional month's time for setting up the facility, consequently the authority granted the reprieve of a month.

Aadhaar, the UIDAI initiative is a 12-digit biometric identification number, has now turned out to be a crucial ID for availing a number of social benefits, opening bank account and other financial transactions. Existing bank account holders also have to furnish their Aadhaar IDs latest by December 31, 2017.

After the deadline of September 30, banks on failure to set up stipulated facilities will have to pay off penalty @ Rs. 20000 per uncovered branch in the first month itself. In the subsequent months also, penalty shall be imposed for uncovered branches if any.

Pandey explained the rationale of setting up aadhaar enrolment and updation centre at bank premises saying, ""This (enrolment facility in bank premises) was done for convenience of people. Given the requirement of linking Aadhaar with existing bank account and for new bank accounts, having the enrolment and updation facilities within the branches (10 per cent) will ensure that people do not face any difficulty".

Goodreturns.in

Read more about: uidai, aadhaar enrolment, bank
Story first published: Wednesday, September 6, 2017, 13:40 [IST]
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