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ARTICLE · 14 FEBRUARY 2019

Aadhaar Bill: Impact On Financial Sector

Tuli & Co
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The Aadhaar and Other Laws (Amendment) Bill 2018 (Aadhaar Bill) was recently passed in the Lok Sabha.

IndiaFinance and Banking
Priya Misra
Priya Misra
Nimisha Srivastava
Nimisha Srivastava
Shubhangi Pathak
Shubhangi Pathak
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Introduction

The Aadhaar and Other Laws (Amendment) Bill 2018 (Aadhaar Bill) was recently passed in the Lok Sabha. The Aadhaar Bill seeks to amend the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act 2016 (Aadhaar Act), the Prevention of Money Laundering Act 2002 (PMLA Act) and the Indian Telegraph Act 1885. The Aadhaar Bill follows in the footsteps of the Supreme Court's decision in the matter of Justice KS Puttaswamy vs Union of India [Writ Petition (Civil) No. 494 OF 2012] (Puttaswamy case), whereby the provision of the Aadhaar Act, which permitted private entities to seek authentication of individuals using their Aadhaar data was held to be unconstitutional.

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