Central Bank joins hands with UIDAI -Governance Now

Central Bank joins hands with UIDAI

Second bank after SBI to ink pact

PTI | July 12, 2010

State-run Central Bank of India today inked an agreement with the Unique Identification Authority (UIDAI) to roll out financial inclusion programmes.

Central Bank, through its network of over 3,600 branches and 1,700 branches of seven regional rural banks sponsored by it,will join the UIDAI in collecting biometric and demographic details of its customers and others, it said in a statement.

"The details will be collected as per the UIDAI norms and will be submitted to them for issuance of UID numbers," Central Bank said in a statement here today.

"Regulatory approval for UID as having fulfilled the know-your-customer requirements is under examination. It would then greatly facilitate opening of bank accounts of the rural poor," the bank added.

Central Bank is one of the first lenders to have become part of the UIDAI process. State Bank of India had also inked an MoU with the Authority earlier this month.

Central Bank, which has the third largest branch network in the country, has opened around 35.88 lakh accounts under its financial inclusion programme which seeks to make banking accessible to every social segment.

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