UIDAI, banks to join hands for financial inclusion

Unique Identity Authority of India (UIDAI) would join hands with banks to further financial inclusion in the country, bankers said today, after a meeting with Nandan Nilekani, UIDAI chairman and ex-Infosys chief.

Nilekani made a presentation to the bankers about his project, which showed how synergies with banks could help achieve financial inclusion. Bank chiefs from across the spectrum, including State Bank of India chairman O P Bhatt, ICICI CEO Chanda Kochhar, HDFC Bank managing director Aditya Puri and Standard Chartered’s Neeraj Swaroop were present, besides senior Reserve Bank of India (RBI) officials and Union Secretary for Financial Services, R Gopalan.

HDFC Bank’s Puri said details regarding forging partnerships between UIDAI and banks were among the points discussed at the meeting held at the RBI headquarters here.

“UIDAI will make it easier (for banks) to go into the interiors, and a timeline for it will be worked out mutually,” Puri said.

“Nandan Nilekani made a presentation. We discussed, along with serving the excluded people, how can we make good business,” Indian Overseas Bank Chairman and Managing Director S A Bhat said.