AADHAR by Unique Identification Authority of India (UIDAI)
Unique Identification Authority of India (UIDAI), riding on Government's Financial Inclusion Plan, will pay to Banks and LIC of India, which are acting as its Registrars for signing up residents till March 2011. Banks which have been specific branch opening targets at villages are to be paid additional Rs 100 in villages with a population up to 2000 To attract persons below the poverty line, such persons will be paid Rs 100 for registering for AADHAR.
Originally initiated by RBI and Government taking keen interest in the financial inclusion, now UIDAI is on to provide financial services across villages in rural India. The cost of biometrics, including manpower, photographs would be around Rs 30 or 40 per person besides giving banks incentive to access rural India. This is in pursuance of the ambitious project of the Government to provide banking facilities to common man in all the villages having a population of not more than 2000 by 2012. The Finance Minister had also indicated that " It is also proposed to extend insurance and other services to the targeted beneficiaries. These services will be provided using the Business Correspondent and other models with appropriate technology back up. By this arrangement, it is proposed to cover 60,000 habitations".
Meanwhile according to UIDAI only 20 percent of the population havebank accounts, as of the 600 million accounts, in actuality, only 200 to 250 million individuals have bank accounts since many of them have multiple bank accounts.
UIDAI expects to issue 600 million AADHARS in next 4 years and this year's target of 100 million. The UIDAI hopes to rope in another 10 banks more as Registrars to its existing 17 Registrars including State Bank of India. Banks will be paid only when AADHAR is generated and not when account is opened. According to an official "The resident's information, when captured by the registrar, will be electronically sent to UIDAI, where the Aadhaar will be generated post the de-duplication process to ensure the person has not been issued an Aadhaar earlier"
In addition to the basic requirements of AADHAR such as name, date of birth, gender, guardian's name and address in the case of demographic details and photograph, all 10 fingerprints and iris scans for biometrics, the bank can capture additional data according to their requirements.