Bank Account Opening Gets Easy With Aadhaar

Aadhaar card is a unique identification number that contains 12 digits and it is issued by the UIDAI (Unique Identification Authority of India). The residents of India can easily get themselves registered to get their Aadhaar card. The Aadhaar card plays an important role in various stages. It is an important document that is used as identity proof in India. The Aadhaar was first time issued on 28 January 2009. For the first-time enrollment, the person does not have to pay anything as it will be a voluntary service or we can say that it is a gift from the Government to their residents. There is no expiry date of the Aadhaar card as it comes with lifetime validity. There are two reasons behind the issuing of Aadhaar. One is Identification and the other is Direct benefits transfer.

Previously many orders have been passed concerning Aadhaar. Currently, Government has taken a great step that residents can easily open their bank account using Aadhaar. Those people who get their transfers and migrates from one place to another, again and again, can now avail the facility to open the bank account by allowing them to use a self-declared location as a proof of residence if it varies from the address specified in their Aadhaar card.

The person who migrates from one place to another faces a lot of problems because the address which is stated on the Aadhaar is different from their current living residential address. On Thursday, the Revenue Department had passed a notification concerning the matter by saying that the KYC of Aadhaar can be used to open a bank account and it will be more convenient for those people who travel and migrate from place to place for their job purpose or for some other reasons. On Wednesday one more notification from the gazette stated that these changes have been made for the purpose to prevent the crimes like smuggling and money laundering.

This alteration has been launched to enable the bank account opening by using KYC Aadhaar so the person who wants to mention the different address from the address in Aadhaar as their current residence address on the basis of their self-described.

Ajay Bhushan Pandey, the Secretary of the Revenue department passed his remarks by saying that the amended PMLR only applies to Aadhaar-based bank account opening and Aadhaar-based address changes. If a person moves for work and needs to use Aadhaar KYC to open a new bank account or change his bank branch, for example, he can self-declare his new address while holding his original address on the Aadhaar card.

The Government hopes that this procedure will play an important role and it will be effective in its way. This will be very convenient for people and especially for the people who travel or migrates from one place to another for the purpose of their jobs or for some other reasons. This will also play an important role to prevent major crimes like Money-laundering and so on.