Seek Aadhar numbers from customers, FinMin tells bankers

Seeking to expedite implementation of Direct Benefit Transfer scheme, Finance Ministry today asked the banks to approach the customers for submission of Aadhaar number to ensure seamless transfer of cash benefit.

"Today I have asked my office to issue an advisory to all the chairmen of the banks to say that banks must directly approach the beneficiary and get the Aadhaar number and seed it into bank account," Finance Minister P Chidambaram said in an interview to DD News.

Describing the DBT a "game changer", he said, "80 per cent (seeding of Aadhaar with bank account) is doable, achievable and with the advisory going out today, the roll out can be quite rapid in the remaining districts."

Linking or seeding of Aadhaar number with the bank account of beneficiary is necessary to ensure seamless transfer of cash benefit relating to various government scheme like LPG subsidy, scholarships and pension.

"We are asking for 80 per cent seeding only because we think that in the remaining 20 per cent, 10 per cent may be duplicate or false account and 10 per cent for whatever reason may not wish to claim the subsidy through the Aadhaar platform," he added.
On transfer of LPG subsidy, Chidambaram said, "It is an easy subsidy to be transfered. There is only one pay master which is the government of India to oil companies."