The Unique Identification Authority of India (UIDAI) is looking at the possibility of partnering with public sector banks to co-design Aadhaar enabled financial products, VS Bhaskar, deputy Director General of UIDAI said here.

He said that they are currently weighing this option and may enter in to Memorandum of Understanding (MoUs) with banks at an appropriate.

"We are currently weighing this option and would sign memorandum of understanding (MoUs) with banks at an appropriate time to implement the same," Bhaskar said, however refusing to divulge further details.

UIDAI today signed an MoU with State Bank of Hyderabad (SBH), which it will act as a registrar for the unique identification project 'Aadhaar'.

SBH is the 16th bank to be roped in by the UIDAI so far. Under the agreement, the bank will execute the enrolment exercise through its over 1,200 bank branches spread across 14 states and two Union territories.

Renu Challu, Managing Director, SBH said of the total 1.3 million beneficiaries, the bank had so far issued 900,000 biometric smart cards as part of the financial inclusion plan.

"Whether we can use the same card for UIDAI that has to be looked at, going forward," she said.