Government Rejects RBI’s New Mandate Claims Regarding Aadhaar-enabled Payment System

The realm of digital technology has greatly improved people’s quality of life. On the other hand, it also presents a number of difficulties. Many headlines, some of which are false news, circulate online and gain popularity on social media platforms every day. People are misled by this, which increases their level of concern. Similar to this, recent reports claiming that the Reserve Bank of India (RBI) has updated Aadhaar banking have appeared and drawn attention from the internet. Additionally, it says that if a consumer doesn’t use their Aadhar to transact money at least once a month, the transactional capability will be shut down.

This allegation has many people alarmed. In the midst of this, the Indian government’s press office, the Press Information Bureau (PIB), has disclosed the veracity of the widely circulated allegations. The organization denies these allegations and refers to it as false news. It further asked recipients not to forward or distribute this communication. According to PIB, no such instructions for mandatory Aadhaar Enabled Payment System (AEPS) transactions once a month have been released by the National Payments Corporation of India (NPCI).

The Central government has denied the allegations and said that, contrary to what the false news reported, failing to comply would not result in the customer’s Aadhaa transaction capability being locked. Regarding the need to link bank accounts with mobile phones for Aadhaan Enabled Payment System (AEPS) transactions, no circular was issued either.

The statement said, “Claim: RBI has made new updates in Aadhaar banking, according to which it is now mandatory to transact money through Aadhaar at least once a month, failing which the customer’s facility to transact through Aadhaar will be locked.” The tweet was published on X, previously known as Twitter. PIB Fact Check: Don’t spread such phony stuff; this assertion is untrue.

PIB tweeted once again, saying, “AEPS: No rules have been released requiring account users to do AEPS transactions each month in order to maintain the services. Through no circular, the NPCI has not mandated that mobile phones and bank accounts be linked in order to complete AEPS transactions.