For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

FM asks banks to seek Aadhar nos from customers

By Religare
|
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
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more