Axis Bank, ICICI Bank, HDFC Bank, SBI and IOB launch Aadhaar-linked bank account.
Five major banks on December 12, 2012 launched Saral Money bank account product which allows customers to open an account using Aadhaar card as address as well as identity proof.
Recently, the Reserve Bank of India (RBI) has directed banks to accept Aadhaar letter as the proof of both identity and address if the address provided by the account holder is the same as that on the Aadhaar card.
From now customers would be able to open a Saral Money banking account by providing Aadhaar letter as the proof of identity and address at any of these banks and the BC (business correspondent) outlets.
The service targets currently enrolled 210 million Aadhaar holders. The UIDAI plans to bring 600 million people under Aadhaar fold by 2015.