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NPCI links 150 million DBT bank accounts with Aadhaar

Corporation says it expects all beneficiaries of all govt subsidies/benefit transfers will be brought under linkage programme

Press Trust of India  |  Mumbai 

The country's umbrella body for all retail payments system, (NPCI), has reached a new milestone with successful linking of as many as 150 million bank accounts with the numbers, moving closer to map the overall 170 million accounts.

The Reserve Bank-promoted today said it expects that all beneficiaries of all government subsidies/benefit transfers will be brought under the linkage programme.

"The current focus is on linking bank accounts of 170 million (direct benefit transfer) beneficiaries with before June 30," said in a statement.

"This electronic benefit transfer programme will not only be unique but also be one of the largest in the world," said the agency's chief

The government has been focusing on to plug leakages and save cost.

To push DBT and financial inclusion, the government last year launched scheme under which banks have opened more than 125 million accounts by January 26.

is the nodal agency for all retail payment systems under the scheme.

"The extent of leakage prevented due to this unique system would be visible on completion of running the scheme for about a year," Hota added.

First Published: Fri, March 06 2015. 19:57 IST