What happens if some fraudster who obtains a copy of my Aadhaar card and tries to open a bank account in my name without my knowledge. Will I not be harmed?

One must keep in mind that a bank account cannot be opened merely on the presentation or submission of a physical Aadhaar card or its photocopy. Under the PML Rules and RBI circulars, to open a bank account, the bank is required to do biometric or OTP authentication and other due diligence before accepting Aadhaar for banking transaction or KYC. So no one can open a bank account in your name without your verification through biometric/OTP etc. If however, a bank account is opened by accepting Aadhaar without biometric or OTP authentication and other verification, then the bank will be held responsible for any loss. An Aadhaar holder cannot be held responsible for bank’s fault. It is just like if some fraudster opens a bank account by presenting someone else’s Voter card/Ration card, it is the bank that would be held responsible not the voter or ration card holder. Till date no Aadhaar holder has suffered any financial loss on account of such misuse.