The Supreme Court of India has extended the deadline till March 31, 2018 to link bank accounts to aadhaar number. Aadhaar number or Unique Identity Number (UID) is the 12-digit personal identification number (PIN) issued by the UIDAI or Unique Identification Authority of India. Not only bank accounts, Aadhaar is also mandatorily to be linked to various other services including mobile SIMs and government schemes by March 31. The extension for Aadhaar linking will also apply to the state government schemes, the top court said. The government had earlier extended the last date to link PAN card or Permanent Account Number to Aadhaar card number for taxpayers to March 31. Except for the deadline for linking mobile phone (SIM) with Aadhaar, the earlier deadline for these services was December 31, 2017. The erstwhile deadline for mobile phone (SIM)-Aadhaar linking was February 6, 2018.
Five things to know about Aadhaar linking deadline of March 31:
1) While opening a new bank account, an applicant is not mandated to submit their Aadhaar number to the bank. However, the applicant must submit a proof to the bank that they have applied for the Aadhaar (UID) number.
2) The ruling of Supreme Court will be in force subject to the awaited ruling in a batch of petitions that had challenged the constitutionality of Aadhaar. The top court said the Constitution Bench would commence final hearing from January 17 on the petitions challenging the Aadhaar scheme.
3) The extension of deadline for linking Aadhaar to mobile connections to March 31, 2018 offers an immediate relief to telecom companies such as Airtel, Vodafone, Idea Cellular and Reliance Jio, and the consumers. “We are pleased that the timeline has been extended. We were facing challenges in complying with the earlier deadline given the volume (of telecom subscribers),” COAI director general Rajan Mathews said.
4) The government had, in November, extended to March 31, 2018 the deadline for mandatory quoting of Aadhaar and Permanent Account Number (PAN) for taxpayers. The extension, a government notification said, has been granted “after considering various representations received and inputs received from banks.”
5) Insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) has also notified a March 31, 2018 deadline to link Aadhaar number to the insurance policies. In a circular issued to all the life and non-life health insurers, the regulator said the date of submission of the Aadhaar Number and Permanent Account Number (PAN) or Form 60 by clients to reporting entity is March 31, 2018.