SBI launches Aadhaar-based enrolment for social security schemes

The country's largest lender State Bank of India on Friday introduced a facility to allow customers to enrol in social security schemes by just furnishing an Aadhaar card.

SBI Chairman Dinesh Khara unveiled the new feature -- which will be available at the bank's Customer Service Points (CSPs) -- that aims to make the process of enrolling in various social security schemes simpler.

Customers visiting CSPs will need only their Aadhaar cards to enrol in schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana, the Pradhan Mantri Suraksha Bima Yojana, and the Atal Pension Yojana, the bank said in a statement.

Customers will no longer need to carry their passbooks to the CSPs for such purposes, it said.

The aim of the new feature is to empower every section of society by removing barriers for accessing financial security, Khara said, adding that this is expected to significantly widen the coverage of social security schemes.