FM asks banks to seek Aadhar nos from customers

Posted By: Religare
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FM asks banks to seek Aadhar nos from customers
Finance Ministry asked the banks to approach the customers for submission of Aadhaar number to ensure seamless transfer of cash benefit in order to expedite implementation of Direct Benefit Transfer scheme.

Finance Minister P Chidambaram said, "Today I have asked my office to issue an advisory to all the chairmen of the banks to say that banks must directly approach the beneficiary and get the Aadhaar number and seed it into bank account."

Describing the DBT a "game changer", he said, "80 per cent (seeding of Aadhaar with bank account) is doable, achievable and with the advisory going out today, the roll out can be quite rapid in the remaining districts."

On transfer of LPG subsidy, Chidambaram said, "It is an easy subsidy to be transfered. There is only one pay master which is the government of India to oil companies." LPG subsidy, he further said, would be rolled out throughout the country by the end of the year.

The aim of DBT is to get the money in the bank account, he said, adding, the Aadhaar provides the platform, there is another platform in the usual banking channel.

The DBT has been rolled out in 121 districts from July 1 across the country. The Finance Minister said the DBT will be extended even for the transfer of food and fertiliser subsidy.

Read more about: finance ministrty, aadhar card
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