Trending Flower 1249 days ago

Can income tax department give instructions to banks for linking aadhar with the accounts, since banks are governed by rules and regulation formulated by RBI. This implies that income tax department which is a part of ministry fo Finance is encroaching on to RBI's territory and RBI is nothing but a mute spectator to the events. this is the third event where ministry of Finance is trying to impose upon RBI. First was demonetisation, second was linking of PAn to bank accounts in February 2017 and this is the third instance. Besides, Hon.ble Supreme Court is yet to give ruling on the seeding of aadhar to bank accounts and surprisingly goverment is overuling the jurisdiction of the apex court also which is a very serious issue. From the above, one can infer that the very existance of RBI and Supreme Court is at stake.