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Home » Economy » Ministers’ panel proposes Aadhar identification for cashless transactions

Ministers’ panel proposes Aadhar identification for cashless transactions

By Newsd
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Aadhaar linking compulsory for life, non-life insurance policies: IRDAI
Source: India.com

The Committee of senior ministers has proposed Aadhar identifications for cashless transactions, enabling biometric authentication for cashless transactions.

The Unique Identification Authority of India has planned to increase biometric authentication capacity through Aadhar card to 40 crore a day from 10 crore to constitute PMO’s  direction to push forward a digital ecosystem in the country.

The ministerial panel comprises Electronics and Information Technology and Law and Justice Minister Ravi Shankar Prasad, Oil and Gas Minister Dharmendra Pradhan, Health Minister J.P. Nadda, HRD Minister Prakash Javadekar, Mines Minister Narendra Singh Tomar and Agriculture Minister Radha Mohan Singh, The Hindu reported.

“In today’s (Wednesday’s) meeting it was decided to use UIDAI in a big way to push cashless society on a priority basis…It can play a major role in digitisation,” The Hindu quoted a government official as saying.

Officials said that card swipe machines or Point of Sale (PoS) service and internet banking would be linked with UIDAI, which will enable payment using Aadhar number.

The government is concurrently working on developing a mobile app that can be used by shopkeepers and merchants for receiving Aadhar-enabled payment bypassing dbit and credit cards, The Indian Express reported.

Around 108 crore Aadhar cards have been issued in the country so far and over 35 crore bank accounts are linked to Aadhar.