Even if Aadhaar numbers were proof of identity, which it is not, its use to make money transfers make financial transfers un-auditable, propagate money laundering and financial fraud. There is no justification for introducing an unverified and un-audited number to allow payments and settlements
DR ANUPAM SARAPH
The Reserve Bank of India (RBI) is empowered by the Payment and Settlement Systems Act, 2007 to regulate various payment systems in the country.
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