Mar 10, 2017

'Aadhaar linked to 52.95 cr bank accounts'

BYPankaj Mishra

The Aadhaar number has been linked to 52.95 crore savings accounts in the public sector banks, regional rural banks and private sector banks, Parliament was informed on Friday.
“As per reports received from public sector banks, Regional Rural Banks and 13 private sector banks, there are 110.03 crore individual, operative savings bank accounts (including Pradhan Mantri Jan Dhan Yojana accounts) with Aadhaar number seeded in 52.95 crore accounts,” Minister of State for Finance Santosh Kumar Gangwar said in a written reply in the Lok Sabha here.
“Banks are committed to seeding savings bank accounts with the account holder’s Aadhaar number, based on his consent,” he said.
Aadhaar seeding will help account holders to do fund transfer through the Aadhaar Enabled Payment System (AEPS), BHIM app and Direct Benefit Transfer (DBT), he said.
“The overreaching aim and objective of seeding is enabling delivery of basic financial services,” he said.

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Pankaj Mishra is a writer of FactorDaily.