Linkage of Aadhaar number to insurance policies mandatory: IRDA

New Delhi Nov 8 (IANS) The insurance sector regulator IRDA on Wednesday said that linkage of the Aadhaar number to insurance policies is mandatory.

According to the Insurance 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.

--IANS
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