Delhi Chief Minister Sheila Dikshit today launched Saral Money, an innovative Aadhar enabled payment product initially being introduced in parts of New Delhi and the National Capital Region.
It has been launched in collaboration with UIDAI, and five banks- Axis Bank, HDFC Bank, ICICI, Indian Overseas Bank and the State Bank of India and Visa Card.
Saral Money ensures that everyone with an Aadhar number automatically has an Aadhar linked instant account in a bank.
The Aadhar holder can also purchase a card for a nominal fee to operate the account.
Dikshit said the new product would bring banking to everyone's door step as well as bring a positive change in the country's financial scenario.
She further revealed that her government has decided to implement a cash transfer mode with the help of Aadhar numbers for its most ambitious food security programme - the Delhi Annshri Yojna.
The scheme will be launched by UPA Chairperson Sonia Gandhi on December 15 in New Delhi.
With Saral Money, the government and other institutions can send money to anyone using only an Aadhar number, irrespective of whether they have a bank account.
The beneficiary can withdraw their money from any ATM, any Micro ATM using biometric authentication provided by Aadhar, through a bank branch, or access their money through the internet and mobile phones.
Saral Money brings the power of a debit card, every Aadhar holder and can be purchased across the counter from kirana shops and bank branches.
It would facilitate instant account opening, simplified documentation and accessibility and reach.
UiDAI Chairman Nandan Nilekani described it a truly innovative step. He further stated that UiDAI will contribute substantially in making Delhi a role model in cash transfer.
Apart from Nilekani, Director General UADAI, R.S. Sharma, CEOs/CMDs of five banks and country manager, Indian and South Asia Visa were present on this occasion. (ANI)