If you have not enrolled for Aadhaar yet, then do enroll for Aadhar card as early as possible. Central Government is going to make Aadhar card mandatory for all types of financial transactions in coming days. Not only this, history of all the financial transactions of the person will also be linked with his Aadhar card. Banks will know through Aadhaar number only how much debt the cardholder has taken and the record in repaying the debt. Finance Ministry has sent project outline to Reserve Bank of India (RBI). New Governor of RBI Raghuram Rajan is also in favour of this. Finance Ministry Officials say that after linking Aadhaar number with bank account, this scheme will be implemented in entire country. It is certain that through this debiting process will get transparent to a significant level. It will become easier for banks to know whom to give loan and whom to not. Also, cardholder will not need to panic for taking loan. It will also eliminate use of various papers for the process. People from rural regions especially farmers will get benefited through this. According to an official, if this scheme of government gets implemented properly, then it will become possible to lend money instantly.
Aadhar card could make new mobile connection process easier
Government is mulling over making Aadhar card useful for getting new mobile connection and final regulations concerning this could be given a final outline by the end of this year. Telecom department officials said that by inclusion of new rules, retailer will have to match fingerprints of the customer with his Aadhar card data online. A pilot project on this same recently run in Andhra Pradesh. They added that it will reduce paperwork because SIM card retailer can verify customer profile on UIDAI server online. An official said that the process is under way, we will send this to home ministry and after getting their consent issue of notice regarding this can be achieved by the year end.