After making Aadhaar mandatory for filing of income tax returns, for those who have an Aadhaar, the government has now made it mandatory to link Aadhaar with bank accounts. Most importantly, the new rules state that all existing bank account holders have to link their bank accounts to their Aadhaar (with a few exceptions). So, all regular bank account holders—and in case of businesses, trusts or joint accounts, those having power of attorney to transact—have to submit Aadhaar details to their respective banks. If you are using internet banking, you will find the Aadhaar seeding link in the accounts or services section of the banking website. Of course, these requirement—of seeding Aadhaar with bank account—are only for those eligible for Aadhaar.

Source: Mint June 20, 2017 11:37 UTC