Aadhaar will be your bank

New Delhi: The Centre has decided to link all savings bank accounts with the Aadhaar number for enabling digital transactions, especially at retail points. The move by the governemnt will be particularly helpful for those who do not have a mobile phone, estimated at 30 crore, and will help them to be linked to the digital economy, official sources said.


The move has reportedly been approved by PM Narendra Modi, who has now tasked finance minister Arun Jaitley and information technology minister Ravi Shankar Prasad with its implementation. Prasad said, "The higher the linkages with the Aadhaar number, the more we have in terms of seamless digital transactions."



According to reports, out of the 112 crore estimated bank accounts across the country, only around 40 crore are linked with Aadhaar. "This needs to be ramped up pretty fast."


"All that is required will be devices that support Aadhaar and biometric at the retail points. If anybody needs to make a transaction even without a phone, he or she just needs to log into his account through the Aadhar biometric link and make the payment," a source said. "This will make digital transactions easy as no connectivity will be required at the consumer's end."


The government has been giving a push to Aadhaar-based linkages in view of the need to accelerate digital transactions at the rural level.

Prasad also emphasised this in a meeting with bankers. Prasad and his team of officials at the IT ministry met around 50 representatives of various banks this week where officials were told to have helpline numbers to provide easier and trouble-free access to digital information.