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Subject:
Aadhaar Number will work without Bank Account
The Upcoming payment bank by IndiaPost will make it possible for over 112 crore Indians to send and receive money only on the basis of the Aadhaar number, even if it is not linked to any bank account.
The IndiaPost which plans to start operation from September 2017, will make Aadhaar number as payment bank itself. The bank will cover 650 districts of the country to simplify and universalize payment systems.
At present 40, 00,000,000 bank accounts in India are linked with Aadhaar. There are 500 million people who have feature phones, and around 350 million who are without any phones. The bank`s USP could be door-to-door banking with the help of the postman which nobody else is doing now.
Sunder Thadani, Hon. Secretary.20170221.
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