2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Government Securities Act
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SARFAESI Act
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Banking Regulation Act
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Prevention of Money Laundering Act
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Detailed explanation-1: -The Reserve Bank clarifies that, in applicable cases, linkage of Aadhaar number to bank account is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 published in the Official Gazette on June 1, 2017.
Detailed explanation-2: -Aadhar is mandatory for opening savings bank accounts. You can apply for a savings account online at Paisabazaar. Aadhar is mandatory for mobile and internet connections.
Detailed explanation-3: -Section 36 mentions the powers of RBI. The Reserve Bank may prohibit banking companies from entering into a particular transaction and can advise the banking company. It can also assist the banking company by granting loans or advances under Section 18.
Detailed explanation-4: -Disabled children in the age group of 6 to 14 years mandatorily require Aadhaar Card to avail benefits under the Sarva Shiksha Abhiyan. The Aadhaar Card is compulsory for those seeking e-panchayat training benefits and for all students who want to receive scholarship at the college level.
Detailed explanation-5: -In its 2018 Verdict, the Supreme Court had ruled that the move of mandatory linking of Aadhaar with bank account does not satisfy the test of proportionality.