RBI/2019-20/40
FIDD.CO.LBS.BC.No. 09/02.01.001/2019-20
August 13, 2019
The Chairmen / Managing Directors & CEOs
Scheduled Commercial Banks (including Regional Rural Banks),
Small Finance Banks and Payments Banks
Madam / Dear Sir,
Direct Benefit Transfer (DBT) Scheme – Implementation
Please refer to Circular RPCD.CO.LBS.BC.No. 75/02.01.001/2012-13 dated May 10, 2013 and RPCD.CO.LBS.BC.No. 11/02.01.001/2013-14 dated July 9, 2013 regarding the use of Aadhaar to facilitate delivery of social welfare benefits by direct credit to the bank accounts of beneficiaries.
2. In this connection, banks are advised to ensure that opening of bank accounts and seeding of Aadhaar numbers with existing or new accounts of eligible beneficiaries opened for the purpose of Direct Benefit Transfer (DBT) under social welfare schemes, is in conformity with the provisions listed under Section 16 of the Master Direction – Know Your Customer (KYC) Direction, 2016 (updated as on May 29, 2019) and extant provisions of the Prevention of Money Laundering (PML) Rules.
3. The above guidelines will be in supersession of Circular FIDD.CO.LBS.BC.No. 17/02.01.001/2015-16 dated January 14, 2016 on “Direct Benefit Transfer (DBT) Scheme – Seeding of Aadhaar in Bank Accounts – Clarification”.
Yours faithfully,
(Gautam Prasad Borah)
Chief General Manager-in-Charge
