New Delhi, January 8: Amid the pandemic, there is an outbreak of false information. Several fake news is being spread on social media platforms. In recent, a claim has gone viral that PAN / Aadhaar card-based KYC (Know your customer) is necessary for buying any quantity of gold and silver jewellery.
The claim suggested that the government has made KYC compulsory for all the cash transactions of gold and silver jewellery. However, the Press Information Bureau has called the claim misleading. Did Authorities Find 3,000 Tonnes of Gold Reserves in Uttar Pradesh? GSI Reveals Truth.
"This claim is misleading. According to the notification, KYC is required to be done only on jewellery of above Rs 10 lakh," PIB's fact check handle tweeted on Friday.
दावा: एक मीडिया रिपोर्ट में दावा किया जा रहा है कि किसी भी रकम की सोने-चांदी की ज्वेलरी खरीदनी है तो पैन/आधार कार्ड आधारित #KYC कराना जरूरी होगा।#PIBFactCheck:- यह दावा भ्रामक है। अधिसूचना के अनुसार केवल 10 लाख से ऊपर की रकम की ज्वेलरी पर ही केवाईसी कराना जरूरी है। pic.twitter.com/4fKUPOWQBe
— PIB Fact Check (@PIBFactCheck) January 8, 2021
The government said that only persons or entities buying gold and silver 'in cash transactions worth Rs ten lakhs or above need to fill KYC documents. This is a requirement of Financial Action Task Force (FATF), an inter-governmental boy that sets international standards to prevent money laundering and terror financing.
PAN / Aadhaar card-based KYC (Know your customer) necessary for buying any quantity of gold and silver jewellery
The PIB has called the claim misleading. KYC is required to be done only on jewellery of above Rs 10 lakh.
(The above story first appeared on LatestLY on Jan 08, 2021 09:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).