The device will be used to establish the identity of an individual at lightning speed and authorize him to have a mobile SIM card or to avail cash reimbursement for the subsidy being given on LPG cylinders, food grains, fertilizers or kerosene.
Talking to newsmen here on Friday, director general, Unique Identification Authority of India (UIDAI), R S Sharma, said, "Efforts are on to improvise the device further and link it with mobile technology. This device reads the finger print of a person and establishes his or her identity by sorting the biometrics from a pool of data stored with UIDAI data bank."
Sharma was here on a three-day visit to monitor retail payment facilities through Aadhaar linked accounts. Expressing satisfaction over the working of the system, he gave final statistics about online transactions made till date during the trial run.
Out of 12 blocks in the state, in which the government decided to launch UID-linked retail payment, the trial run has been initiated in Ratu block of Ranchi district, Chandil block of Saraikela district, Sadar block of Hazaribag district.
Till date, 1,059 accounts have been credited using Aadhaar Payment Bridge (APB), whereas 1,275 account holders used Aadhaar enabled platform for transactions, including balance inquiry.
Sharma said the portable device was developed under standards prescribed by a committee appointed by the Reserve Bank of India, which included the Indian Bank Association (IBA), UIDAI, National Payments Corporation of India (NPCI) and the Institute for Development and Research in Banking Technology (IDBRT).
"The device costs around Rs 4,000 but the price is likely to come down once more manufacturers enter the market and demand increases," he said, forecasting a future price of Rs 10,000 approximately.
"These devices will not only help in bank transaction through business correspondents but also be used for various other operations that requires identification of an individual," he said.
While cash transactions have been successfully experimented in Jharkhand, reimbursement against subsidy for LPG cylinders is being experimented in Karnataka, Maharashtra and Andhra Pradesh.
Sharma said the authority is concentrating on five diverse fields that include financial inclusion (bank operations), telecom inclusion (SIM disbursement after identity verification), subsidy linked with PDS, subsidy linked with LPG cylinders and subsidy linked with fertilizers.