600 mn m-banking users to be linked with Aadhaar

The regulatory body of Unique Identification Number (UID or Aadhaar) UIDAI is mulling over to link 600 million m-banking users with Aadhaar. Nandan Nilekani, Chairperson, UIDAI said that there will be undulated result of this implementation on electronic and mobile commerce. UIDAI has so far issued few more than 25 crore Aadhaar numbers in the country but is keen to cover 60 crore people by 2014. Mr. Nilekani added that the aim is to install 10 lakh micro-ATMs in the country by 2014 to facilitate people with easy banking services especially those belonging to rural areas. He feels that the Aadhaar platform will facilitate the beneficiary of receiving benefits directly and will also eliminate any leakage involved in the whole process.

News is also that soon a person with Aadhaar number will not need to input 4-digit ATM pin to withdraw cash from his/her account because the Finance Ministry has directed the banks to hurry up the work of installing biometric ATM in the country. In such type of ATMs, finger print or iris scan will be sufficient to take out cash from the machine. The government recently launched the Aadhaar based cash transfer scheme in 20 districts from January 1 and is aiming to cover the entire nation by next year. To lessen the load from the banks, private firms will be given the authority of managing and controlling these biometric ATMs.

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