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Section 7: Aadharnecessaryfor receiving subsidies, benefits for which expenditure is incurred from CFI etc.

Aadharwas made mandatoryfor insurance products in accordance with PMLA Rules. This was in 2017. However due toSC Judgment+ recentamendment in 2019,Aadhar is not mandatory.

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@Satoshi_NakamotoSend the notification?


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https://www.paisabazaar.com/aadhar-card/irdai-makes-aadhaar-linking-with-insurance-policies-mandatory/=>
In astatement given on November 8, 2017 by the regulator, Aadhaar-insurance policy linkage has been made compulsoryunder the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017.


“Central Government vide gazette notification dated 1st June 2017 notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 making Aadhaar and PAN/Form 60 mandatory for availing financial services including Insurance and also for linking the existing policies with the same,” IRDAI said.



The notification was back in 2017. SC judgment and recent amendment will change the position.

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Paisabazaar is saying Aadhar is mandatory based on 2017 notification bro. Also, you cannot rely on such websites.

Check IRDAI website. There is no new notification in Sept 2020 that pertains to Aadhar and its use for insurance products.

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@Satoshi_NakamotoI asked for notification by IRDAI not article by paisabazaar


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@KntYes it is not mandatory. That is what I am saying.


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@Homo NeanderthalensisFrom my understanding, other documents can be used if Aadhar has not been assigned. Read last 4 lines of Section 7.


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@Satoshi_NakamotoUntil Aadhar has been assigned, other documents are allowed. This is what I understand from Section 7.


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@Satoshi_NakamotoPlease read last 4 lines :)


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