ENS Economic Bureau
First Published : 26 Nov 2010 03:13:52 AM IST
HYDERABAD: The Unique Identification Authority of India (UIDAI) said it was in dialogue with public and private sector banks to launch co-branded Aadhaar-enabled products. It also signed a memorandum of understanding with the State Bank of Hyderabad (SBH) on Thursday, to facilitate opening of bank accounts across its 1,200 branches spread across 14 states and two union territories.
UIDAI has already signed pacts with about 15 banks across the country to faiclitate the enrollment excercise.
“We are considering options to co-design Aadhaar-enabled financial products in association with banks,” said V S Bhaskar, Deputy Director General, Regional Office, Hyderabad, UIDAI.
He added that while other banks are exploring options, Citibank has already started working specifically on Aadhaar-enabled financial products.
According to UIDAI officials, the unique identification number will guarantee identity, which would help during the opening of bank accounts, especially in rural areas.
Meanwhile, as part of the Central Government and the Reserve Bank of India initiative, SBH said it has chalked out a detailed road map for implementation of financial inclusion in the first phase. “By March, 2011, we would be covering 318 villages in Andhra Pradesh (AP) and Karnataka having 10.4 lakh population,” said Renu Challu, Managing Director, SBH.
Similarly, in the second phase, the bank is planning to expand its presence to about 750 villages covering 31.3 lakh population by March, 2012.
In Andhra Pradesh, the state government has allotted five districts for the implementation of smart card projects for electronic benefits transfers.
“Of the total 1.3 million beneficiaries, we have so far issued 9,00,000 biometric smart cards, which also have a provision for UIDAI, as part of the financial inclusion plan. We will be soon taking a call whether we can use the same card for UIDAI,” Renu said.
While Nellore and Adilabad districts were allotted under one-district- one-bank model, Mahabubnagar, Karimnagar and Medak districts were allotted under service area.