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Statement: The government has made quoting of Aadhaar mandatory for opening bank accounts as well as for any financial transaction of 50,000 and above. Which of the following statements can be concluded from the given statement? I. The government in its Budget 2017 has already mandated seeding of Aadhaar number with Permanent Account Number (PAN) to avoid individuals using multiple PANs to evade taxes. II. Aadhaar is more secure and reliable than PAN for bank account transactions. III. Aadhaar number is issued by the Unique Identification Authority of India (UIDAI).

1. All except II
2. Both II and III
3. Only I
4. Only I and II
5. None of the above

Correct answer: Only I

Solution

The given statement supports the idea that Aadhaar is being used for financial identification, which aligns with the seeding of Aadhaar with PAN to prevent misuse. However, it does not compare Aadhaar with PAN in terms of security, nor does it state who issues Aadhaar. Hence, only I can be concluded.

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