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Linkage of Aadhaar number to insurance policies mandatory: IRDA

IANS  |  New Delhi 

The sector regulator IRDA on Wednesday said that linkage of the number to policies is mandatory.

According to the Regulatory and Development Authority of India (IRDA), the linkage is mandated under the "Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017".

"These rules have statutory force and, as such, life and general insurers (including standalone health insurers) have to implement them without awaiting further instructions," IRDA said in a statement.

The central government notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 on June 1, 2017, making Aaadhar and PAN mandatory for availing financial services including insurance and also for linking the existing policies with the same.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 08 2017. 22:42 IST