UID to act as proof for opening bank a/cs : Rupee Times

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UID to act as proof for opening bank a/cs

By Neelima Shankar

Apr 27, 2011

The Unique Identification Number (UID) to be issued to Indian citizens is soon going to act as a valid document for opening bank accounts.

The cards are being so designed that they are in strict adherence to the Know Your Customer (KYC) norms.

So far Aadhaar has been permitted only for the opening of no frills accounts as part of financial inclusion plan by Reserve Bank of India.

"When this can be complying with the revenue department's anti-money laundering norms, then why not for banking transactions?" an official said.

It is expected that in the coming three years, more than 60 crore Indians would be having Aadhaar cards.


(Comments Posted : 2)		Post Your Comments

1.	More discussions on aadhaar project
Sachin (Posted: Apr 30, 2011)

2.	Respected UID Board members & Mr. Nilekeni In my view, a UID card one must carry FREELY at all times with him, so the best is to give a visible embossing prints like on Credit card, details only his UID No., Contact No.(other than his own) may be spouse or may be introducer, his photo and his signature. His name, address, and other information is not required on the card as India is a multi religion nation and these information on the card may lead to misutilisation, you understand like during riots etc. some people would not like to disclose their identity or at some other time a third party may misutilise the other informations. Besides this is issued in the interest of national security and of course all other informations could be easily obtain at any time from the central repository. This is like you have recorded each and every citizen or individual. Next if you can add the recording of all financial transactions, say above rupees one thousand, made by each individual, be his personal expense or a salary or a business transaction, I feel both the records of people and financial fraud / transaction can easily be under check and well controlled. Please pressurise the authority to make it must carry card, mandatory and only for the Indian citizen and for foreigners, they always carry their passport, anyway. So no need to be confused. Regarding UID no. it can be the first character of his given name, first character of his last name, three characters of his state of birth, eight characters of his date of birth i.e. DD MM YYYY and finally the 001, three digits serial numbers. All these 16 digits, you mast must have noticed quite easily remember-able, even by a most illitrate ones as he only has to remember the last three digits. Chances of duplication is again reduced by names, state, DOB and serial no. Well sir, you must have designed in a better way, but please let me request you once again not to disclose MY ID and allow me to carry my card at all time or attach it to my financial transactions so that I have no choice but to carry it always with me. Thanking you Regards Ashok Moda +919322087457 ashokmoda@gmail.com
Ashok Moda (Posted: Apr 28, 2011)

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