Public sector lender, Allahabad Bank has started the registration work for the Unique Identification Number (UID) project, Aadhaar. So far enrolment forms for 100 UID customers have been obtained by the bank. After registration with Aadhaar, Know Your Customer (KYC) norms will become a lot more relaxed for the underprivileged segment as the UID number will then fulfill KYC requirements. Through its registration process, the bank aims to cover 3 crore residents comprising 2.48 crore customers, 22,000 staff members and other residents. Also under the financial inclusion plan, the bank aims to reach out to 18,167 villages by 2014.
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