Dec 192016
 

No cheques without Aadhar details

The Modi Govt. might soon make a necessary announcement regarding cheque issue and payment for the citizens. In this important step, it is might be now mandatory for all cheque recipients to have their Aadhar details on the cheque while drawing payment from the cheques. After coming to power, the Narendra Modi led central government has made a continuous push to introduce Aadhar card in all government and banking transactions made by citizens. Aadhar details are mandatory to receive all Govt. sponsored benefits like LPG subsidy. Many banks have already made the regulation mandatory for Aadhar details in cheque payments.

Sl. No. Fields Related data
1 Provision Linking cheque payment with Aadhar
2 Implementing authority Ministry of Finance, Govt. of India
3 Issuing authority of Aadhar cards Unique Identification Authority of India(UIDAI)
4 Details stored in Aadhar number Biometric details, demographic details, photograph, etc

Why Linking Aadhar card to banking is beneficial?

In the recent war of the central government against corruption and black money, linking Aadhar cards in the banking transactions might prove to be a big leap. Aadhar is a unique identification number of a citizen, which stores several vital information of the citizens such as biometric details, demographic details, photograph, etc. It is a 12 digit unique number which is provided to every citizen. It works for both as a proof of identity and proof of address. UDAI is the issuing authority of the Aadhar cards. Tagging Aadhar card with every banking transaction, including the cheques will make it clear about who is performing the transaction and can be identified in seconds.

How the implementation will be done?

In the work plan, the Govt. might make it mandatory to provide Aadhar no. of the recipient of the cheque. In case of cheque transactions, at present, only the Account no. or name of the recipient is needed to be mentioned, along with the amount to be paid. After the implementation of the regulation, there will be separate field on the cheque slip to write the Aadhar number of the recipient. The banks will also be directed not to accept cheques without any Aadhar details written on it. Few banks such as Bank of India are already providing new columns on the cheque slips to write Aadhar no. of the cheque recipient. However, it is not mandatory at present.

Unified Payments Interface (UPI)

Almost all banks are going to launch their UPI apps recently which will help customers to make cashless banking transactions more easily and efficiently. Linking Aadhar cards with all banking transactions, including cheque payment will surely bring down the menace of corruption and black money. Fraudsters of cheque can be easily identified by following up the Aadhar details. The govt. is launching several schemes to encourage citizens to make cashless transactions using UPI.

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