Published on Tue, Dec 21, 2010 at 17:3
One of the first benefits of having a unique identity (UID) number will soon come into force. The UID or Aadhaar number is all you will need to produce to open a bank account.
The Finance Ministry has recognised Aadhaar as an "officially valid document" that will satisfy all the bank's know-your-customer needs.
The main aim of this move is to promote financial inclusion of the poor into the banking system, making it possible for them to easily establish their identity and open bank accounts.