Aadhaar Card is a new and dynamic identity document for all Indians. The government of India had launched this revolutionary concept almost a decade ago. Apart from being a crucial proof of identity and address, the aadhaar card contains a 12-digit unique identification number and records all the details of an individual, including unforgeable data like biometric information.
Financial inclusion is the big need of the day; and to further speed-up the process of financial inclusion in the nation, the RBI approached working groups on MicroATM norms and Central Infrastructure and Connectivity for Aadhaar-based financial inclusion instruments.
They came up with the recommendation of Aadhaar Enabled Payment System that permits online interoperable monetary transactions at PoS (MicroATM) through the devices of any bank, utilizing the Aadhaar verification process. https://www.npci.org.in/
Click here to read more: https://www.npci.org.in/
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