'Aadhaar' number to act as valid document to open bank account

UID number to satisfy KYC norms: Finance Ministry

PTI | December 21, 2010



The next time you want to open a new bank account, forget the heavy load of documents that one has to take along as an 'Aadhaar' number is all that you need now.

A recent notification issued by the Finance Ministry has recognised Aadhaar number issued by the Unique Identification Authority of India (UIDAI) as an "officially valid document" to satisfy the Know Your Customer (KYC) norms for opening bank accounts, a statement released by the Authority said.

This notification is expected to promote the financial inclusion of the poor and the hitherto excluded by making it possible for them to easily establish their identity and open bank accounts, it said.

The UIDAI is facilitating opening of bank accounts for the residents at the time of enrollment for Aadhaar through partner banks and acceptance of Aadhaar as a valid KYC will make the process seamless.

Official sources said the move by the government will give a big boost to the popularity of the 'Aadhaar' project and will also enable those outside the banking arena to have an account of their own.

Sources said the process has already been implemented in some of the banks. The new forms for opening an account will have a column for writing in the unique number.

A 12-digit exclusive number 'Aadhaar' is being issued by the government to act as an unique identification for citizens which is linked to the resident's demographic and biometric information.

They can utilise the number for identification purpose anywhere in India and access a host of benefits and services.

 

Comments

 

Other News

Distinguishing Fish 1 and Fish 2: The pragmatism behind India’s WTO ratification

 India became the 123rd WTO member to ratify the multilateral Agreement on Fisheries subsidies (AoFS) when it deposited the Instrument of Acceptance for Phase 1 on July 20, 2026. The ratification is restricted to disciplining Illegal, Unreported and Unregulated fishing (IUU), protection for overfished

The 7% growth problem: Why the next 7% will be harder

India has become accustomed to hearing the 7% growth number. It is now less a milestone than an expectation. Yet the paradox is becoming clearer: maintaining 7% growth may be considerably harder than achieving it once. India’s real GDP grew 7.7% in FY2025–26, following growth of 6.5% in FY202

The Constitution cannot be altered: Justice Abhay Oka

Justice Abhay Oka, who retired from the Supreme Court in May 2025, has said that the Constitution of India cannot be altered. Explaining the landmark Kesavananda Bharati judgment (1973) on the basic structure of the Constitution, he said, “This is one judgment that has saved democracy in India.&rdq

How the flora and fauna evolved in the Indian subcontinent

Mammals of India  By A.J.T. Johnsingh and P.O. Nameer HarperCollins India in association with Bombay Natural History Society  

India`s renewable race is moving beyond megawatts

When Shell bought Sprng Energy in 2022, India`s renewable energy market appeared to offer precisely what global energy majors were seeking: scale, growth and a place in one of the world`s largest energy transitions. Four years later, Shell is selling the same business to Aditya Birla Group for an enterpris

Nepal Floods: India keeps close watch on the situation

India`s central government has been keeping a close watch on the situation arising out of the flash flood in Nepal on Wednesday. Union home minister Amit Shah spoke with the chief ministers of Bihar and Uttar Pradesh, the two states that share the border with Nepal, regarding the disaster

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter