Union Bank in pact with UIDAI -Governance Now

Union Bank in pact with UIDAI

Bank will work as registrar for UID initiative

PTI | July 16, 2010

State-run, Union Bank of India today said it has entered into an agreement with Unique Identification Authority of India to work as registrar for UID initiative.

Under the agreement, Union Bank of India will enrol its customers for issuance of UID with the help of enrolling agencies, a press release said.

The agreement was signed by Union Bank, General Manager, Vivek Mhatre and Assistant Director General of UIDAI Rajesh Bansal.

Bank will also focus on enrolment of rural population for issuance of UID to step up Financial Inclusion.

UID numbers issued to the target group under financial inclusion can be used for supporting transactions in their accounts like for NREGP payments, the bank said.

As part of its efforts to promote financial inclusion, Union Bank has opened 4.8 million no-frill savings bank accounts, of which 2.04 million are through branch banking and 2.76 million are under branchless banking, using biometric smart card technology, the bank said.

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