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National Payments Corporation of India links 15 crore bank accounts with Aadhaar number

National Payments Corporation of India (NPCI) has linked 15 crore bank accounts with Aadhaar number.

Target:

The NPCI targets to link bank accounts of 17 crore DBT (direct benefit transfer) beneficiaries with Aadhaar numbers, by June 30, 2015.

Objectives:

By linking DBT accounts with Aadhaar numbers, Government aims to bring beneficiaries of all government subsidies under the Linkage programme to plug leakages and save cost since Aadhar numbers ensures proper identification. As per the authorities, the extent of leakage prevented will be visible only after a year of scheme implementation.

About National Payments Corporation (NPCI):

  • NPCI is an umbrella body for all retail payments systems in India. It was incorporated in 2008 under the Companies Act
  • Its main objective is to facilitate an affordable payment mechanism in order to facilitate financial inclusion and benefit the common man across the country
  • It also seeks to consolidate and integrate the multiple systems with varying service levels into nation-wide uniform and standard business process for all retail payment systems
  • Besides the linking programme, NPCI is also the nodal agency for all retail payment systems under the Pradhan Mantri Jan Dhan Yojana

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