(Registered under the Trade Unions Act 1926, Registration No.:3427/Delhi)
State Bank of India Officers’ Association
04th Floor, SBI Administrative Unit, No. 86, Rajaji Salai, Chennai- 600 001
Phone: 044-25227170 Tel/Fax 044 25227170
Linkage of Aadhar with the bank accounts and other financial transactions is a clear case of the violation of basic human rights of the citizens of this country. In spite of this, the Govt of India made mandatory the unique identification project (UID Project) through Rule 9 of the Prevention of Money Laundering Rules, 2017 as amended by the Prevention of Money Laundering (Second Amendment) Rules, 2017 for the purpose of opening and maintaining bank accounts and for carrying any financial transactions.
As per the amended rules, an Aadhaar Number has been made mandatory for opening of bank accounts; making any financial transactions of and above Rs. 50,000; and foreign remittance to be credited even to small accounts. Further, the existing bank account holders have been directed to furnish Aadhaar Number before and non-compliance of the same will result in the concerned bank accounts being ceased. Consequently, every citizen is being compelled to possess an Aadhaar Number for not only opening of a new bank account, but also for maintaining the existing bank accounts and making transactions through such bank accounts.