Now use Aadhaar for opening bank accounts, procuring mobile connection

AadhaarIn a major decision pertaining to Know Your Customer (KYC) verification compliance for telecom companies and banks, President Ram Nath Kovind has approved the Aadhaar and Other Laws (Amendment) Ordinance, 2019.

This will help the use of Aadhaar number for the purpose of opening bank accounts and for procuring mobile connections.

Post the judgement issued by the Supreme Court of India in September 2018, telecom and banking had to effectively ban even voluntary use of Aadhaar for eKYC.

The court also barred section 57 of the Aadhaar Act of 2016 that allowed private entities to use Aadhaar data for carrying out Aadhaar based e-KYC.

In adherence to the judgement, department of telecommunication (DoT) had notified all telecom service providers to i stop using Aadhaar based e-KYC mmediately for verification for re-verification and for issuing new mobile connections.

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