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Anivar Aravind @anivar
, 8 tweets, 4 min read Read on Twitter
Just read the story. The story is more about Aadhaar eKYC mess than @paytm & how it is destroying Industry. Whole Banking Industry is now into "mandatory" Aadhaar eKYC rush for even though there is nothing makes aadhaar mandatory for a/c opening. Thread cc: @TheKenWeb
sub-rule (17)(a) of Rule 9 of the PMLA Rules, 2005 as amended by Prevention of Money-laundering (Maintenance of Records) Second Amendment
Rules, 2017 clearly specifies that new account holders have upto six months to submit aadhaar.

Parliament Question on 23rd March 2018 says - Notified date or six months of the date of commencement of account based relationship by the client *whichever is later* as the date of submission of Aadhaar number
Deadline for linking Aadhaar with bank accounts is indefinitely extended and notified. In short there is no deadline or dependency for Aadhaar e-KYC for opening or maintaining bank accounts . @TheKenWeb treats KYC as Aadhaar eKYC alone in article
Every industry adopted Aadhaar eKYC is going to be impacted since it relies on treating consent in Aadhaar way. medium.com/karana/consent…
The @TheKenWeb Research 's last point on timeline is not correct based on above information. Law so far not mandated aadhaar for opening new bank accounts. In my observation, what happening now is the fall of Aadhaar's "presence less" & "paperless" promises cc: @akm1410
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