How to Update Aadhaar Card Address for Bank Account Opening: New Rules Explained

The finance ministry has recently made changes to the Aadhaar card rules, allowing banks to open accounts with a current address even if it does not match the address on the Aadhaar card. This new rule is a relief for many, especially migrants who often face challenges in opening bank accounts due to address discrepancies.

Here are 5 key points to understand the new Aadhaar rule:

1) Banks can now open accounts with a current address, even if it differs from the one on the Aadhaar card.
2) Customers can provide a self-declaration form with their local address if there is a mismatch.
3) It is still recommended to update your Aadhaar card address for other purposes, such as KYC requirements.
4) The new rule also applies to changing the base bank branch for existing account holders.
5) These changes have been made under the Prevention of Money-laundering Rules, not the Aadhaar Act itself.

Overall, this new rule simplifies the process of opening bank accounts for individuals with address variations, providing more flexibility and convenience for account holders.