Ensure opening of Aadhaar-enabled accounts: RBI asks RRBs

Also asks to open accounts for residents of villages with less than 2,000 population for promoting financial inclusion

PTI | June 22, 2012



The Reserve Bank on Wednesday directed Regional Rural Banks (RRBs) to ensure opening of Aadhaar- enabled banks accounts for beneficiaries of the Mahatma Gandhi National Rural Employment Guarantee Scheme and other social security schemes, for facilitating electronic transfers.

"In view of the timelines attached to implementation of Electronic Benefit transfer (EBT) for routing MGNREGA wages and social security benefits including proposed cash transfers in respect of subsidies on kerosene, LPG and fertilisers, you are requested to ensure opening of Aadhaar Enabled Bank Accounts of all the beneficiaries," RBI said in a circular.

It said such an account based on the Aadhaar unique national identification number should also be opened for residents of villages with less than 2,000 population for promoting financial inclusion.

The Unique Identification Authority of India (UIDAI), headed by Nandan Nilekani, is entrusted with the task of generating the Aadhaar unique identity cards.

Under the first phase of the project, UIDAI was to enrol 200 million citizens by March 2012. The project aims to provide about 600 million unique identification numbers by 2014.

The scheme was launched in September 2010 and is intended to improve implementation of social sector schemes of the government.

Aadhaar identity cards are accepted as valid documents under the Know Your Customer norms for opening bank accounts, securing mobile connections and cooking gas connections.

The Aadhaar cards will also be used to plug leakages in the government's poverty alleviation programme.

Comments

 

Other News

`Focus on infra, reforms, digital connectivity has created strong foundation for growth`

In a step towards the operationalisation of the Bharat Audyogik Vikas Yojana (BHAVYA), union minister of commerce & industry Piyush Goyal launched the BHAVYA Portal on Monday in New Delhi.   Addressing the gathering, Goyal said that the BHAVYA scheme will adopt a competit

Govt, RBI announce major reforms to attract FPI

The finance ministry on Friday announced a series of measures aimed at enhancing the ease of investment for individual Persons Resident Outside India (PROIs) and Foreign Portfolio Investors (FPIs), and to attract stable long-term foreign capital flows.   Building on the recent in

Lessons in climate adaption from world’s largest inhabited river island

Majuli Island, perched between the Brahmaputra River to the south and east, the Subansiri River to the west, and a branch of the Brahmaputra to the north, has been severely affected by recurrent flooding and intense riverbank erosion. Despite its global importance in acquiring UNESCO tentative status for

Careless whispers and the impossible trinity

Time can never mend, the careless whispers of …    As the RBI marches ahead, for the upcoming monetary policy meeting this June, whispers from the corridors echo around several policy options to defend the rupee – by deploying forex reserves, raising in

Bullet Train Project: Third mountain tunnel breakthrough achieved

A major engineering milestone has been achieved in the Mumbai–Ahmedabad Bullet Train Project with the successful breakthrough of the third mountain tunnel (MT-07) at Ambesari village in Dahanu Taluka of Palghar district, Maharashtra.   With this achievement, three mountain

Supreme Court gets five new judges

Five new judges were appointed to the Supreme Court of India on Monday. "Vide Notifications of even number dated 01.06.2026, in exercise of the powers conferred by clause (2) of Article 124 of the Constitution of India, the Hon’ble President of India is pleased to appoint (i) Shri





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter