The Unique Identification Authority of India (UIDAI) launched a programme here on Friday to verify the Aadhaar-based authenticity of a person and to launch a platform for connecting the person to banks.
“The authentication process in the first phase had 85 per cent success rate,” said R.S. Sharma, UIDAI mission director, in a press conference in Nakmok.
Describing the process, he said the government would deposit funds in the intended beneficiary accounts. The project can be used to monitor fraud and discrepancies and increase transparency. The payment will be made centrally out of the state treasury to the beneficiary's account, leading to higher liquidity and lower cost of funds for the State government.
“We have found that the thumb and the forefinger impression were the best way to track people for the authentication of the system,” he added.
Describing the benefits for the recipient, Mr. Sharma said: “Just like the mobile number portability, people can change their account any time from one bank to other.”