Monday, July 5, 2010

SBI takes up registration of UID number for its customers

State Bank of India is the first bank in the country to begin registration of the Unique Identification number for its customers. SBI has signed a deal with UIDAI for registration of its customers.

SBI through its 12,000 plus branches and 17,000 plus Customer Service Points (CSP) of Business Correspondents (BCs) will be joining UIDAI (Aadhaar).

The bank said in a statement, "SBI, as a registrar, will be capturing through empaneled enrollment agencies the biometric characters like finger prints, iris among others and sending the same to UIDAI for providing the unique number".

During the signing of the MoU SBI Chairman, O P Bhatt said, "Whatever it will take, whatever we can, we will do it."
The bank pointed out by grouping of the process of enrollments of residents by UIDAI and the customer acquisition by SBI will make possible implementation of the project and achieving greater financial inclusion.
The other benefits of the UID project include improving the viability of financial inclusion program through reduced enrollment costs, reduction of distribution channel costs for government disbursals and remittances, mobility of identity to migrant labour.