Indian Banking System has 2.3 crores plus Aadhaar Numbers in its portfolio


The progress is slow, but all efforts are being made to seed Bank Accounts with Aadhaar number.  Seeding of Bank Accounts with Aadhaar numbers is the link between Government subsidies and end beneficiaries.


“So far, about 23 million (2.3 crore) Adhaar cards have been linked to bank accounts and we expect the number to touch 100 million in the next few months,” Nilekani said at an event organised here by software services industry body Nasscom.


On the opportunities that Adhaar cards presents, Nilekani said it is one of the best ways to check corruption.


“There are two types of corruption. One is large scale, which is like the 2G scam or the coal scam and the other is retail scam like irregularities in distribution of foodgrains, kerosene, etc. Adhaar can effectively check the latter, which I call retail corruption,” he added.


Sharing similar views, Khosla said Adhaar presents huge opportunities to start-ups and entrepreneurs to develop apps and services.


“Adhaar is one platform, which presents a huge opportunity to develop apps and services. It is an opportunity in the way you deal with banks or pay your utility bills, etc. It is one of the most powerful investments by the government for an IT-enabled low friction economy,” he added.


However, the major challenge is that the withdrawal through Aadhaar-bio metric authentication is not enabled. The Bank account holders have to withdraw the amounts through normal banking withdrawal methods, i.e ATM’s/Cheques/Internet Banking/Mobile Banking /Debit Cards etc.


The AEPS has been rolled-out by NPCI, but it not gone beyond the pilot stage.



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